13 Billion Dollar Electric Vehicle Battery Deal from BMW

BMW has taken a record-breaking step towards battery supply!

BMW will pay 96 billion yuan ($13 billion) for the supply of batteries for electric vehicles.

According to a new report, Svolt Energy, a spin-off of Chinese Great Wall Motor has become BMW’s electric vehicle battery supplier. Along with Svolt, Eve Energy and CATL also supply the German company.

In the continuation of the report, it was noted that BMW’s next-generation all-electric models will include battery cells to be used in Svolt Energy’s CTP (Cell-to-Pack) structure.

According to data released by South Korean market researcher SNE Research on October 11, CATL was the world’s largest battery manufacturer with a global share of 36.9 percent in the January-August period. According to the top 10 battery manufacturers with the highest market share published by SNE Research, Eve Energy’s global share was 2.1 percent in the January-August period, while Svolt Energy did not make the ranking. Therefore, Svolt Energy’s project with BMW is likely to significantly improve the company’s position.

A source close to the battery manufacturer told local media outlet 36kr that the start of production is expected by the end of 2027.