BASF and SVOLT have entered into an agreement to partner throughout their global operations with regards to cathode active materials (CAM) development, raw materials supply and battery recycling for SVOLT’s battery cells. Both companies will also assess joint upstream resourcing to strengthen the security of raw material supply.
BASF has a global manufacturing and R&D footprint, and a broad portfolio of mid- to high-nickel, manganese-rich, cobalt-free CAM. In Europe, BASF is introducing CAM production with a secured local raw materials supply chain, a favorable energy mix for production, and short logistics along the supply chain. SVOLT has seven R&D centers in Wuxi, Baoding, Shanghai and Shenzhen in China, as well as in Japan, Korea and India. It is actively expanding its upstream and downstream value chains.
Yang Hongxin, Chairman of SVOLT, said, “The strategic cooperation with BASF is an important part of SVOLT’s global supply chain. This cooperation will help us to complement each other’s strengths along the battery supply chain, accelerate innovation capabilities in CAM R&D, and continuously promote portfolio innovation and core competitiveness for EV batteries.”