BMW: contract with Livent for lithium batteries

(CercleFinance.com) - BMW today announced that by 2030, at least half of the company's worldwide sales are expected to come from fully electric vehicles.


As a result, the group's need for lithium - an important raw material for the production of battery cells - will change. For this reason, the company will also source lithium from a second major supplier, the US company Livent. The multi-year contract will be worth approximately 285 million euros. Livent will supply lithium directly to the BMW Group's battery cell manufacturers from 2022.

"By sourcing lithium from a second supplier, we are securing requirements for production of our current fifth generation of battery cells. At the same time, we are making ourselves technologically, geographically and geopolitically less dependent on individual suppliers," said Dr Andreas Wendt, member of the Board of Management of BMW AG responsible for Purchasing and Supplier Network.


Copyright (c) 2021 CercleFinance.com. All rights reserved.