BMW plans to source €4 billion (Dh17.28bn) worth of battery cells from Chinese battery maker Contemporary Amperex Technology Ltd (CATL) over the next few years, the car maker's purchasing head said on Monday.
The long-term contract sees €1.5bn worth of battery cells coming from a new CATL plant in Erfurt, in the eastern German state of Thuringia, Markus Duesmann said in Munich, according to Reuters.
CATL will build the battery factory in central Germany to supply the country's car industry through its transformation toward electric cars, high-end manufacturer BMW said Monday.
"We are very pleased that CATL has decided to build a factory for battery cells in Erfurt," capital of Thuringia state, the Munich-based firm said.
The contract for the plant in Erfurt is due to be signed on Monday during a visit of China's Premier Li Keqiang to Germany.
Mr Duesmann said BMW had invested in some of the costs for the factory in Germany, but declined to say how much. He said he would welcome it if other car makers also wanted to invest in the Erfurt plant.
The Chinese firm will supply the cells for the electric Mini and for BMW's upcoming "iNext" electric limousine, slated for production from 2021.
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CATL's Erfurt factory will make Thuringia "one of the most important European locations for battery technology", regional economy minister Wolfgang Tiefensee told news agency DPA.
Industrial workers' union IG Metall also hailed the deal, which it said could create around 1,000 new jobs in the high-tech sector, according to AFP.
Car makers are squeezed by looming stricter EU emissions targets and years of scandal over cars built to cheat diesel emissions tests.
German firms have been hard at work lining up their supply chains to produce huge volumes of electric vehicles, hoping to solve both problems at a stroke.
Top of the to-do list has been striking deals with battery makers and securing supplies of raw materials for the cells, especially cobalt.
As well as BMW, Mercedes maker Daimler is also weighing a deal with CATL, according to German business daily Handelsblatt, while Volkswagen already has a contract with the Chinese firm as well as with South Korea's Samsung and LG.
Politicians, industry leaders and worker representatives have frequently mooted a homegrown German option for battery production, but massive car parts supplier Bosch shied away earlier this year, calling it too risky an investment.
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UAE currency: the story behind the money in your pockets
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UAE v Zimbabwe A, 50 over series
Fixtures
Thursday, Nov 9 - 9.30am, ICC Academy, Dubai
Saturday, Nov 11 – 9.30am, ICC Academy, Dubai
Monday, Nov 13 – 2pm, Dubai International Stadium
Thursday, Nov 16 – 2pm, ICC Academy, Dubai
Saturday, Nov 18 – 9.30am, ICC Academy, Dubai
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
Moonfall
Director: Rolan Emmerich
Stars: Patrick Wilson, Halle Berry
Rating: 3/5
Business Insights
- Canada and Mexico are significant energy suppliers to the US, providing the majority of oil and natural gas imports
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- US domestic suppliers might benefit from higher prices, but overall oil consumption is expected to decrease due to elevated costs
Play-off fixtures
Two-legged ties to be played November 9-11 and November 12-14
- Northern Ireland v Switzerland
- Croatia v Greece
- Denmark v Ireland
- Sweden v Italy
Race card for Super Saturday
4pm: Al Bastakiya Listed US$250,000 (Dh918,125) (Dirt) 1,900m.
4.35pm: Mahab Al Shimaal Group 3 $200,000 (D) 1,200m.
5.10pm: Nad Al Sheba Conditions $200,000 (Turf) 1,200m.
5.45pm: Burj Nahaar Group 3 $200,000 (D) 1,600m.
6.20pm: Jebel Hatta Group 1 $300,000 (T) 1,800m.
6.55pm: Al Maktoum Challenge Round 3 Group 1 $400,000 (D) 2,000m.
7.30pm: Dubai City of Gold Group 2 $250,000 (T) 2,410m.
Coal Black Mornings
Brett Anderson
Little Brown Book Group
Health Valley
Founded in 2002 and set up as a foundation in 2006, Health Valley has been an innovation in healthcare for more than 10 years in Nijmegen, the Netherlands.
It serves as a place where companies, businesses, universities, healthcare providers and government agencies can collaborate, offering a platform where they can connect and work together on healthcare innovation.
Its partners work on technological innovation, new forms of diagnostics and other methods to make a difference in healthcare.
Its agency consists of eight people, four innovation managers and office managers, two communication advisers and one director. It gives innovation support to businesses and other parties in its network like a broker, connecting people with the right organisation to help them further
Barcelona 3
Messi (27’, 32’, 87’)
Leganes 1
El Zhar (68’)
Rajasthan Royals 153-5 (17.5 ov)
Delhi Daredevils 60-4 (6 ov)
Rajasthan won by 10 runs (D/L method)
'Avengers: Infinity War'
Dir: The Russo Brothers
Starring: Chris Evans, Chris Pratt, Tom Holland, Robert Downey Junior, Scarlett Johansson, Elizabeth Olsen
Four stars
The Greatest Royal Rumble card
50-man Royal Rumble - names entered so far include Braun Strowman, Daniel Bryan, Kurt Angle, Big Show, Kane, Chris Jericho, The New Day and Elias
Universal Championship Brock Lesnar (champion) v Roman Reigns in a steel cage match
WWE World Heavyweight ChampionshipAJ Styles (champion) v Shinsuke Nakamura
Intercontinental Championship Seth Rollins (champion) v The Miz v Finn Balor v Samoa Joe
United States Championship Jeff Hardy (champion) v Jinder Mahal
SmackDown Tag Team Championship The Bludgeon Brothers (champions) v The Usos
Raw Tag Team Championship (currently vacant) Cesaro and Sheamus v Matt Hardy and Bray Wyatt
Casket match The Undertaker v Rusev
Singles match John Cena v Triple H
Cruiserweight Championship Cedric Alexander v Kalisto
MATCH INFO
Europa League semi-final, second leg
Atletico Madrid (1) v Arsenal (1)
Where: Wanda Metropolitano
When: Thursday, kick-off 10.45pm
Live: On BeIN Sports HD
Our legal consultants
Name: Hassan Mohsen Elhais
Position: legal consultant with Al Rowaad Advocates and Legal Consultants.
From Conquest to Deportation
Jeronim Perovic, Hurst
The stats
Ship name: MSC Bellissima
Ship class: Meraviglia Class
Delivery date: February 27, 2019
Gross tonnage: 171,598 GT
Passenger capacity: 5,686
Crew members: 1,536
Number of cabins: 2,217
Length: 315.3 metres
Maximum speed: 22.7 knots (42kph)
Killing of Qassem Suleimani
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
UAE currency: the story behind the money in your pockets
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