BASF Signs Business Agreement with CATL to Accelerate Global Carbon Neutrality Goals

[Asia Economy Reporter Hwang Yoon-joo] BASF is partnering with the world's largest battery company CATL to establish a sustainable battery value chain aimed at achieving global carbon neutrality goals.

On the 23rd, BASF announced that it has signed a memorandum of understanding for a strategic partnership with CATL regarding battery material solutions, including cathode active materials (CAM) and battery recycling.

As the largest chemical raw material supplier to the automotive industry, BASF holds a broad portfolio of mid- to high-nickel, manganese-rich, and cobalt-free cathode active materials, securing a dominant position in the global CAM market, including manufacturing and R&D sectors. CATL is currently constructing its first lithium-ion battery production plant in Germany to actively target the European market, accelerating the development of a local supply chain for European customers.

Through this strategic partnership, BASF plans to closely collaborate with CATL in the fields of cathode active materials and battery recycling. Based on this cooperation, BASF aims to further enhance its expertise and strengthen its position in the global market.

CATL intends to localize its battery recycling system and secure a stable raw material supply chain through the partnership with BASF, thereby improving its service capabilities in Europe.