BMW says it will not produce electric car battery cells until the technology is more advanced. The German company is currently utilizing electric car battery cells made by CATL, Samsung and Northvolt.
BMW Finance Chief Nicolas Peter said the company would not rush to mass-produce electric car batteries.
“We have secured our needs for the next few years very well with the partners we have,” said Peter as quoted today, Friday, January 14, 2022.
He explained that the industry is not at a point where it can convince BMW of the technology for another 10 to 15 years.
“That's why it's important to invest a lot of resources with partners around the world in battery cell development,” he said.
BMW does build electric car battery assembly sites in each factory, but the battery cells are taken from partners.
Daimler holds about 33 percent of Automotive Cells Company, which will build an eight gigafactory of electric car battery cells.
Volkswagen wants to build six electric car battery cell factories in Europe by the end of the decade with partners such as China's Gotion High-Tech and Northvolt. Volkswagen has a 20 percent stake in both companies.