BMW, Samsung Expand Partnership
BMW has expanded its partnership with Samsung SDI, signing a memorandum of understanding under which Samsung will supply BMW with lithium-ion battery cells for the BMW i3, BMW i8 and additional hybrid models over the coming years.
In response to the growing demand for electric vehicles, the new agreement increases quantities delivered over the medium term, and calls for further technological development of battery cells.
BMW first partnered with Samsung in 2009. The German automaker says it chose Samsung in part lithium-ion battery cells play a role in environmentally friendly production and subsequent recovery of materials during product development.
Demand for lithium-ion batteries by the EV market will increase dramatically in the next seven years, moving from market earned revenues of $381.9 million to an estimated $7.60 billion in 2020, according to an analysis by Frost & Sullivan published earlier this month.
Energy Manager News
- Dynegy Files to Move Illinois Into ‘Single, Competitive Power Market’
- IRRC Jettisons Pennsylvania PUC’s Controversial Cap on Net Metering
- Energy Storage: It’s About the Software
- MIT Develops Promising New Battery Storage Technology
- India Launches Net-Zero Building Portal
- Companies Cooperating on Waste-to-Energy Projects
- Clean Energy Commitment in the Corporate and Local Small Business Sphere
- Xcel Asks for $90M ‘Switching Fee’ If Lubbock Utility Joins ERCOT