Reuters
BMW cautious on bringing batteries in-house despite rising sales
BMW won’t scale up its own battery cell production for electric cars until the technology has developed further, the German company said on Thursday, taking a more cautious approach than some rivals despite record brand sales in 2021. The automaker, which was also upbeat about hitting the top end of its 9.5%-10.5% profit margin estimate for 2021, currently buys battery cells from CATL, Samsung and Northvolt among others, but is building its own pilot plant. “We have secured our needs for the next few years very well with the partners we have,” finance chief Nicolas Peter told Reuters, adding BMW wouldn’t rush to scale up its own cell production.
