German vehicle OEM BMW has secured long-term supply deals worth a total of €10 billion ($11 billion) from lithium-ion cell manufacturers Contemporary Amperex Technology (CATL) and Samsung SDI.
The supply agreements come as BMW forges ahead with e-mobility plans.
The biggest deal bolsters the company’s relationship with China’s CATL, increasing last year’s €4 billion ($4.4 billion) supply deal to €7.3 billion ($8 billion). The 11-year contract starts next year.
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