BASF and SVOLT have announced that they have entered into an agreement in which both parties will partner throughout their global operations with regards to cathode active materials (CAM) development, raw materials supply, and battery recycling for SVOLT's battery cells.
The cooperation will also boost the research and development (R&D) capabilities for both companies in sustainable battery materials and strengthen both parties' core competitiveness in the largest battery market, China, and globally.
Additionally, the cooperation will support China's carbon reduction target and fast-track global progress towards carbon neutrality. Both companies will also evaluate joint upstream resourcing to reinforce the security of raw material supply.
"The strategic partnership with SVOLT will further enhance our strong position in the fast-growing battery materials market," stated Dr. Peter Schuhmacher, President, Catalysts division.
"As a globally leading battery materials supplier, BASF is ideally positioned to deliver tailored high-performance cathode active materials for SVOLT's leading cell technology."
Yang Hongxin, Chairman and CEO of SVOLT, said, "The strategic cooperation with BASF is an important part of SVOLT's global supply chain. This strategic 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."