BMW purchases 1 billion euros of batteries from CATL and will build a factory in Germany

Tesla's demonstration effect has set off a wave of electric vehicles around the world, but lithium batteries for vehicles have become a shortcoming in supply. Lithium battery manufacturers around the world are aggressively expanding production capacity to meet market demand.

According to the latest news from foreign media, German BMW recently ordered 10 billion euros worth of lithium batteries from China's CATL, which will promote CATL to build a lithium battery factory in Europe.

According to Reuters, on June 28, BMW spokesman Glenn Schmidt announced that BMW has signed an agreement with Chinese lithium battery manufacturer CATL to purchase automotive lithium batteries worth 10 euros.

This is not the first major battery customer that CATL has obtained in Europe or Germany. In May, a senior executive in charge of procurement at German auto giant Daimuller confirmed that China's CATL has officially become Daimuller's lithium battery supplier, and Daimler will use the other party's batteries in its own electric vehicle models, but the specific purchase scale and amount are still unknown.

It is reported that the further procurement contract obtained from BMW will promote CATL to build a lithium battery factory in Germany.

CATL is currently looking for a suitable site for a lithium battery factory in Germany. The government of the German state of Thuringia is encouraging CATL to build a factory at a location in Erfurt, the state.

It is reported that CATL has become the world's largest automotive battery manufacturer. Not long ago, CATL successfully went public and obtained a large amount of funds. The company is using the proceeds to expand its manufacturing scale. It is expected that by 2020, the company's automotive battery production will reach 50 GWh.

Among China's automotive battery suppliers, BYD and CATL have become a pair of fierce rivals.

BMW, which issued the purchase order, is a world-renowned luxury car manufacturer. Like the global automotive industry, BMW has also formulated a plan to develop electric vehicles. According to statistics, in the first five months of this year, electric vehicles accounted for 7% of BMW and MINI brand vehicles sold by BMW in the United States, and the sales of electric vehicles soared by 60%.

In markets such as Norway and Malaysia, electric vehicles account for more than half of the BMW and MINI vehicles sold by BMW.

It is reported that in 2018, BMW's electric vehicle sales target is 140,000 units.

As a winner of Toutiao's Qingyun Plan and Baijiahao's Bai+ Plan, the 2019 Baidu Digital Author of the Year, the Baijiahao's Most Popular Author in the Technology Field, the 2019 Sogou Technology and Culture Author, and the 2021 Baijiahao Quarterly Influential Creator, he has won many awards, including the 2013 Sohu Best Industry Media Person, the 2015 China New Media Entrepreneurship Competition Beijing Third Place, the 2015 Guangmang Experience Award, the 2015 China New Media Entrepreneurship Competition Finals Third Place, and the 2018 Baidu Dynamic Annual Powerful Celebrity.