European Battery makers will need plenty of raw materials!

Jul 17, 2020

BMW and Northvolt sign a supply contract worth 2 billion euros

The long-term supply agreement signed between BMW and Northvolt is a manifest of the true spirit of the European Battery Alliance. It includes several key elements aligned with the core values of the alliance:

• Sustainability in focus with a minimal ecological footprint using clean power and recyclability from design to end-of-life.
• Cooperation between an established world-class company and an entrepreneurial startup company.
• Long-term technological cooperation securing that the deep battery know-how can be combined with detailed user knowledge.
• Cooperation built over many years including financial engagement favours trust; the long term supply agreement is a verification of mutual commitment for the future.

This supply agreement illustrates perfectly the benefit of the strategy to create a European alternative for battery production, fostering a strong European industrial development in the transition to electrified mobility.

Read the press release on BMW website.