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3/17/2021, 5:05 PM (Source: TeleTrader)
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BMW decides not to build batteries in-house

Chief executive officer of the BMW Group Oliver Zipse shared on Wednesday that the German automotive giant will not be creating in-house manufacturing of electric car batteries because so far their suppliers were able to deliver all ordered elements on time and the company hasn't experienced any shortages, despite global semiconductor deficit.

"We have strong contracts with various battery manufacturers from China, from Korea, also from Europe, and that is a very strong network. They will supply us with enough batteries for our ramp up for the next couple of years. And for us, there's no necessity to go into our own production," Zipse noted.

The news arrived days after another German automaker Volkswagen announced building six battery factories by 2030.

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