German auto firms have indicated they could pull the plug on new investments in battery manufacturing and related facilities in the US if they are forced to pay increased tariffs under a “national security” review.
The warning came after the Trump administration launched an investigation that could pave they way for new tariffs to be slapped on automotive products from Europe, Japan and South Korea.
Germany’s BMW Group is set to sign 10-year contracts to secure supplies of cobalt and lithium for production of electric vehicle batteries, the auto giant has told BBB.
A BMW spokesperson confirmed contracts would be signed with more than one supplier “in the near future”— but declined to name the firms involved.
German automotive giant BMW has formed a partnership to develop solid-state batteries for its electric vehicles with US-based start-up Solid Power.
Solid Power, which has been developing solid-state rechargeable batteries in Louisville, Colorado, aims to advance its technology to meet the requirements for high performance EVs.
German automotive maker BMW has pledged to work for a more sustainable and transparent cobalt supply chain for battery manufacturing.
BMW said companies using cobalt as a raw material face tackling issues related to environmental standards and human rights that “cannot be completely eliminated in cobalt mining”.