BMW is readying for a significant jump in sales of its electric vehicles and has boosted its orders of battery cells.
During a recent interview with Bloomberg, BMW chief executive Oliver Zipse revealed that the car manufacturer now has battery contracts totaling more than €20 billion (~$24 billion), a significant increase from the €12 billion ($14.2 billion) worth of contracts that it previously had. Zipse stated that these cells will be used by the i4, iX, and other electric vehicles that BMW plans to introduce through 2024.
“We’re following the market,” Zipse said. “The first half has shown that we’re growing and gaining market share. We’re right in the middle of electrification.”
BMW’s new battery cell orders were placed through Contemporary Amperex Technology, EVE Energy, Samsung SDI, and Northvolt AB.
Bloomberg notes that BMW’s move to secure battery supplies comes at a particularly crucial time for the car manufacturer as it continues to deal with the semiconductor shortages crippling the industry. Zipse believes the shortage will get worse in the second half of this year.
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“We said some weeks ago that the second half would be more difficult, and that’s what we’re seeing now,” Zipse said. “It’s more difficult and the problem is here to stay for many months.”
BMW’s EV range was most recently updated with the 2022 iX3, currently on display at the Munich Motor Show. It features a rear-mounted electric motor with 282 hp and 295 lb-ft (400 Nm) of torque, allowing the SUV to hit 62 mph (100 km/h) in 6.8 seconds and continue through to an electronically limited top speed of 112 mph (180 km/h).
