BMW bets on design and recycling, not mining, to lower battery costs - finance chief
and had set up a raw material office in Canada, where it signed a raw materials agreement last year.
BMW is taking a different approach, focusing on creating demand via car production and relying on partners with more expertise to build large-scale infrastructure required for electrification. Peter said although BMW believes in recycling over mining as a way to reap critical minerals and has a battery cell recycling facility via its joint venture in China, it does not see the need to develop large cell recycling facilities of its own.
Instead, it will prove demand for recycled raw materials via the sales growth of its electric cars, and work with partners to recycle at scale, he said. "With our business development, we are creating the motivation to invest - but we do not need to develop big recycling facilities for battery cells ourselves."
Investing in technologies requiring fewer critical raw minerals, including hydrogen-powered cars, is another way BMW plans to bring down costs., which Chief Executive Officer Oliver Zipse said he could imagine going into commercial production in the second half of the decade if other industries like trucks step up to help provide a hydrogen charging network.
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