BMW cancels two billion euro battery cell contract with Northvolt
The termination aligns with mutual interests in developing next-generation battery cells, aiming for a sustainable European ecosystem
BMW, a German premium carmaker, announced the cancellation of a significant order with Northvolt, a Swedish company, concerning a 2 billion euros ($2.15 billion) contract for battery cells for its electric vehicles. This development was initially reported by various German media outlets, including manager magazin, which highlighted Northvolt's inability to meet the delivery timelines stipulated in the long-term supply contract established in 2020.
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