November 24, 2017 / 11:53 AM / 19 days ago

BMW to spend $237 million on battery cell centre

FRANKFURT (Reuters) - BMW will bundle its battery cell expertise in a new competence centre, the German luxury carmaker said on Friday, adding it would invest 200 million euros ($237 million) in the site over the next four years.

FILE PHOTO: The logo of BMW before the company's annual news conference in Munich, southern Germany, March 21, 2017. REUTERS/Michael Dalder/File Photo

“By producing battery-cell prototypes, we can analyse and fully understand the cell’s value-creation processes. With this build-to-print expertise, we can enable potential suppliers to produce cells to our specifications,” BMW board member Oliver Zipse said in a statement.

“The knowledge we gain is very important to us, regardless of whether we produce the battery cells ourselves, or not.”

The centre will open in early 2019, BMW said.

($1 = 0.8435 euros)

Reporting by Christoph Steitz

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