German automaker BMW said today that it has canceled a €2 billion ($2.15 billion) order for EV battery cells with Northvolt.
German media Handelsblatt and manager magazin reported that the Swedish lithium-ion battery maker could not deliver on time on a long-term supply contract for battery cells agreed with BMW in 2020.
A BMW spokesperson said today, “Northvolt and the BMW Group have jointly decided to focus Northvolt’s activities on the goal of developing next-generation battery cells. The BMW Group continues to have a strong interest in establishing a high-performance manufacturer of circular and sustainable battery cells in Europe.”
Korea’s Samsung SDI is going to step in to fill the gap.
manager magazine said that Northvolt is having difficulties ramping up industrial series production, and it’s two years…