BASF and SK On to evaluate collaboration opportunities in the global lithium-ion battery market; initial focus on CAM
BASF, a globally leading battery materials producer, and SK On, a globally leading electric vehicle battery cell manufacturer, have entered into an agreement jointly to evaluate collaboration opportunities in the global lithium-ion battery market focused on North America and Asia-Pacific.
The collaboration brings together strong business and product development capabilities to develop industry-leading battery materials for lithium-ion batteries.
Initially, BASF and SK On will focus on evaluating collaboration options for cathode active materials (CAM) production. Further details on the collaboration will be revealed at a later stage.
Additional collaboration opportunities along the battery materials value chain will be evaluated subsequently, including battery recycling. By leveraging their respective expertise, BASF and SK On aim to develop innovative solutions to support their strong growth ambitions.