BMW has expanded its electric vehicle (EV) battery supplier network by agreeing to include SVOLT Power in its roster of partners. China’s Nice Wall Motor has spawned the battery developer, which has allegedly secured a massive £10 billion-plus contract to deliver EV builds in Europe, with a price tag of up to $13 billion.
SVOLT Power, a subsidiary of Nice Wall Motor, is a cutting-edge enterprise within the global electric vehicle battery industry. With a workforce of approximately 3,000 individuals worldwide, half are dedicated to research and development, while a significant 1,200 personnel have been focused on pioneering cobalt-free battery technology alone?
SVOLT has committed over RMB 500 million ($77.3 million) to analyzing and developing cobalt-free batteries, enabling it to become the first company to commercialize a reliable pack with this technology.
BMW is partnering with SVOLT, leveraging the Chinese company’s expertise to upgrade its global vehicle fleet. In September 2022, BMW announced strategic partnerships with EVE Energy and Contemporary Amperex Technology (CATL), the world’s leading battery producer for a sixth consecutive year, further solidifying its commitment to electric vehicle innovation.
According to the latest reports emerging from China, SVOLT Power is poised to join forces with BMW’s electrification efforts, securing a deal to supply electric vehicle battery cells as early as 2027.
SVOLT plans to allocate two dedicated electric vehicle (EV) battery lines for BMW.
According to reports from China, SVOLT has confirmed signing a contract with BMW in July to supply electric vehicle (EV) battery cells. The production is set to commence in late 2027.
According to reports, SVOLT has committed two dedicated cell manufacturing lines to BMW at its facilities, enabling the production of tailored battery modules and packs for the German automaker. According to multiple trade chain sources familiar with the matter, a Chinese-language media outlet reported that the new order is for approximately 90 GWh of battery capacity destined for BMW in Europe, worth up to RMB 96 billion (~$13 billion).
BMW has announced that it will begin delivering electric vehicles (EVs) equipped with lithium-ion cylindrical cells from CATL and EVE Power as early as 2025, beating SVOLT’s reported timeline for starting its own EV battery production for the German automaker.
Although neither SVOLT nor BMW has officially confirmed the settlement, uncertainty surrounds the battery chemistry the former plans to supply for the latter. Nevertheless, the order appears shrewd given BMW’s ambitious target of achieving 160 GWh battery capacity by the end of this year, which may be challenging to meet solely through partnerships with CATL and EVE.
