SHANGHAI, May 27 (Reuters) - Chinese battery giant CATL (300750.SZ) on Friday said it will start supplying cylindrical cells to BMW (BMWG.DE) from 2025 to power its new series of electric vehicles.
BMW declined to comment.
CATL has been supplying BMW for a decade. The Chinese firm is looking at potential battery factory sites in the United States to supply carmakers including BMW, with a goal of production beginning in 2026, Reuters reported earlier.
BMW will launch a dedicated electric platform by 2025. The German carmaker said its upcoming products will upend the perception the German carmaker is behind on electrification and make its stock compete with the likes of Tesla Inc (TSLA.O).
It marks a rare move by CATL, which has been supplying most of its auto clients including Tesla with square cells.
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