The company aims to become the world’s leading cathode supplier in the booming electric car battery business.
(Photo: dpa)
Dusseldorf In Schwarzheide north of Dresden, BASF opened its first large plant for battery materials in Europe on Thursday morning. The world’s largest chemical company produces the cathode material that is crucial for cell performance. Lithium-ion batteries for a good 400,000 electric cars can be equipped with the annual production from Schwarzheide. The plant is already fully booked for years.
The new production is to become a milestone in several ways: for example for the EU. She wants to make domestic battery production more independent of global supply chains, as Vice Commissioner Maros Sefcovic emphasized at the inauguration in Schwarzheide.
The plant is particularly important for BASF itself. It is the next piece of the puzzle in CEO Martin Brudermüller’s strategy for building a new profit driver. The manager wants to make the company the world’s leading cathode supplier in the booming business of battery production for electric cars. It’s a capital-intensive venture that, along with high growth opportunities, harbors some risks.
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