Article Image
IPFS News Link • Business/ Commerce

BMW Group Secures Lithium Supplies For Upcoming Next-Gen Plug-Ins

• https://insideevs.com, Mark Kane

This week, the German manufacturer announced a €540 deal with Ganfeng Lithium Co., Ltd. based in Jiangxi (China), which will be responsible for lithium hydroxide supply over five years (2020-2024) from its Australian hard-rock deposits.

According to BMW, this single deal is enough to cover all the lithium needs for the upcoming 5th generation battery packs for plug-in electric cars, scheduled for market introduction starting in 2021.

"The projected order volume totals 540 million euros. In this way, the BMW Group is securing 100% of its lithium hydroxide needs for fifth-generation battery cells in its high-voltage batteries,"

The BMW Group intends to expand its lineup to 25 plug-in models by 2023. We guess that sales will then reach a level of several hundred thousand annually (compared to over 145,000 over the past 12-months).


http://freedomsphoenix.thinkpenguin.com/