BMW cancels US$2bil battery cell contract with Northvolt

BERLIN: BMW says it has cancelled a €2 billion (RM10.1bil/US$2.1bil) order for battery cells for its electric vehicles with Northvolt.

German media, including manager magazin, reported earlier this week that the Swedish company could not deliver on time on a long-term supply contract for battery cells signed in 2020.

"Northvolt and the BMW Group have jointly decided to focus Northvolt's activities on the goal of developing next-generation battery cells," said BMW.

"The BMW Group continues to have a strong interest in establishing a high-performance manufacturer of circular and sustainable battery cells in Europe," it said.

Northvolt did not immediately respond to Reuters' request to comment.

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Autos BMW