Europe, China and North America will each have two plants that will produce round lithium ion cells for BMW.
Automakers have shifted to selling vehicles with better profit margins in the U.S. as supply chain shortages and shipping concerns dampen production.
With an improved chip supply, carmakers are at work whittling down order backlogs.
The shortage of traditional wire harnesses could accelerate automaker plans to move to lighter, machine-made harnesses used in EVs.
Port congestion in China, closures in Ukraine, and ongoing supply chain issues will not slow output, reported Milan Nedeljkovic, production chief for BMW AG.
Penske Automotive Group first quarter net income sored from $183.1 million year over year to $369.5 million.
The luxury automaker credits strong factory-dealer communications as the reason dealers could sell into the pipeline.
Tesla Inc. has had to shut down its plant in Shanghai for a total of 12 production days in recent weeks because of China’s COVID-19 lockdowns.
Supply chain challenges rising from the war in Ukraine could make electric vehicles (EV) more expensive to build as raw material prices shoot up.
The Ukraine War will lower global light-duty vehicle production through next year by millions of units, predicts the automotive research firm.
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