BASF, SK On partner for global lithium-ion battery market
BASF, a leading battery materials producer, and SK On, a prominent electric vehicle battery cell manufacturer, have announced an agreement to assess collaboration opportunities in the global lithium-ion battery market, with a focus on North America and Asia-Pacific.
The collaboration aims to leverage the strengths of both companies in business and product development to create cutting-edge battery materials for lithium-ion batteries. Initially, the focus will be on evaluating collaboration options for cathode active materials (CAM) production, with further details to be disclosed at a later stage. The companies also plan to explore additional collaboration opportunities along the battery materials value chain, including battery recycling.The collaboration is driven by the companies’ shared commitment to sustainability, aligning with the principles of the “Value Balancing Alliance,” which seeks to establish a global standard for measuring a company’s social, economic, and environmental contribution.
Dr. Peter Schuhmacher, president of BASF’s Catalysts division, emphasised the importance of addressing the need for more sustainable solutions for the electric vehicle industry. Jee Dong-seob, president and CEO of SK On, expressed enthusiasm about expanding their partnership to lead the global EV battery market.
The collaboration between BASF and SK On is expected to strengthen their market position in serving battery manufacturers and electric vehicle producers worldwide. Both companies aim to develop innovative solutions to support their growth ambitions, with a focus on delivering sustainable solutions for the electric vehicle industry.
The collaboration will also contribute to the development of industry-leading battery materials for lithium-ion batteries.The companies plan to reveal further details about the collaboration at a later stage, including potential collaboration opportunities along the battery materials value chain, such as battery recycling. The collaboration is a testament to the companies’ commitment to driving innovation and sustainability in the global lithium-ion battery market.