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BMW AG increased battery cell orders to meet growing demand for electric vehicles, which accounted for over 11% of deliveries during the half-year.
German automaker chief executive Oliver Zipse said in an interview that BMW now has contracts for more than € 20 billion ($ 23.8 billion) in batteries, up from € 12 billion previously.
The batteries will be used in i4 sedans, iX sports cars and other models produced by BMW through 2024. The company also plans to start switching to a new generation of batteries the following year, according to “Bloomberg” and seen by ” Al Arabiya. Report “.
“We are following the market,” Zipsi said. “The first half has shown that we are growing and gaining market share. Currently, we have reached half of the electric car market.”
Automakers are suffering from a severe semiconductor shortage, which is putting the industry on high alert to identify further weaknesses in their supply chains. Access to sufficient battery cells and raw materials such as cobalt and nickel will be critical to automotive manufacturers’ electrical transitions.
Electric car leader Tesla has gone so far as to make deals to supply minerals to miners.
BMW’s increasing battery cell orders are divided between Amperex Technology Co., Ltd. in China, EVE Energy, Samsung SDI in South Korea and Northvolt AB in Sweden.
Despite BMW’s desire to respond to the increase in sales of electric cars, it has remained limited by the shortage of semiconductors. Last month, the company expected the situation to worsen until the end of the year.
“We said a couple of weeks ago that the second half would be more difficult, and that’s what we are seeing now,” Zipsy said. “It’s more difficult and the problem is here to stay for several months.”
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