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BASF Adds Svolt as Newest Partner in China’s Battery Business

The partnership between BASF and Svolt focuses on the development of cathode active materials, the supply of raw materials, and the recycling of battery cells from SVolt, the companies said without revealing financial details.


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BASF and Chinese battery maker SVolt have formed a partnership to develop battery materials

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German chemical giant BASF and Chinese battery maker SVolt have entered into a partnership to develop battery materials, the two companies said in a joint statement on Monday. The partnership focuses on the development of cathode active materials, the supply of raw materials, and the recycling of battery cells from SVolt, the two companies said without revealing financial details.

SVolt is the latest company in China that BASF has been working on to enter the battery market. The German company recently agreed to work with battery maker CATL and established a joint venture with supplier Shanshan on battery materials.

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SVolt is the latest company in China with which BASF has partnered to enter the battery market.

BASF said the battery materials business could generate more than € 1.5 billion ($ 1.76 billion) by 2023 and more than € 7 billion by 2030 as electric vehicle production surges. I did.

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BASF Adds Svolt as Newest Partner in China’s Battery Business

Source link BASF Adds Svolt as Newest Partner in China’s Battery Business

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