BERLIN, Sept. 16 (Xinhua) -- German chemical company BASF and Chinese battery giant CATL have concluded a strategic partnership agreement on battery materials solutions, including cathode active materials (CAM) and battery recycling, the companies announced on Thursday.
The collaboration aims at developing a "sustainable battery value chain" and would support CATL's localization in Europe while contributing to both companies' goals towards achieving global carbon neutrality, according to a joint statement.
Through its partnership with BASF, China's leading automotive lithium-ion battery maker seeks to improve its European service capabilities by "developing a localized battery recycling network and a secure raw material supply chain in the region."
"With CATL's innovative battery technology and BASF's deep materials expertise, we will further enhance our capability to support our worldwide customers and accelerate the global drive towards carbon neutrality," said Zhou Jia, president of CATL.
"BASF aims to deepen its expertise in CAM and battery recycling by working with a globally leading battery producer. This cooperation will deepen BASF's expertise and strengthen its global market position," the statement said.
"Pairing BASF's strong position as a leading supplier for cathode active materials with CATL's expertise in lithium-ion batteries will speed up innovation and the formation of a sustainable battery value chain worldwide," commented Markus Kamieth, member of BASF's Board of Executive Directors.