A new report from Reuters notes that BMW has canceled a $2 billion contract for battery cells with Northvolt.
The cancelation comes as the Swedish battery maker was unable to deliver on a long-term supply contract, which was signed in 2020.
The canceled contract comes as the IEF recently pushed manufacturers back on full electrification plans. BMW stated it is still interested in partnering with a high-performance manufacturer of battery cells in Europe.
Read the full report from Reuters here.
