BMW and Rimac team up to supercharge EV battery tech. Check details

BMW and Croatia's Rimac have announced a partnership to collaborate on high-voltage electric vehicle (EV) battery technology, a move aimed at challenging the dominance of Asian manufacturers in this field, a report by Reuters stated. The partnership underscores Rimac's evolution from an electric hypercar manufacturer - 45 per cent owned by Porsche AG - to a key supplier of battery systems and powertrain components for other automakers. Rimac aims to produce 100,000 batteries annually between 2024 and 2026.

The automotive industry is facing increasing pressure to reduce capital expenditure on EVs. In response, premium EV startup Lucid Motors is diversifying its revenue streams by offering its electric drive technology to other manufacturers, including Aston Martin, to supplement its own EV sales.

Rimac's CEO, Mate Rimac, disclosed in 2023 that a German automaker would use Rimac's battery system in a high-performance model, with an expected annual production of approximately 40,000 units starting this year. BMW, however, has not disclosed specific details regarding the batteries or models that will result from this partnership. BMW clarified that the partnership does not involve the new cylindrical batteries powering the upcoming 'Neue Klasse' EV line, set to begin production in 2025.

While BMW operates its own battery cell research centre in Germany, it has opted to collaborate with partners for large-scale battery development. The company has placed significant orders worth billions of euros with Contemporary Amperex Technology Co. Limited (CATL) and EVE Energy for battery cell production in China and Europe.

Last year, BMW achieved an all-electric sales share of 15 per cent and aims to increase this figure to 50 per cent well before 2030. This partnership with Rimac marks a strategic move by BMW to strengthen its position in the EV market and further its commitment to sustainable mobility. The collaboration between BMW and Rimac highlights the growing trend of automakers partnering with specialised companies to accelerate the development of EV technologies.