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BASF to invest up to €4.5 billion in battery materials and recycling
Source:Adsale Plastics Network    Editor:JK    Date:08.Dec.2021

During the shift toward electromobility, BASF is further strengthening its focus on battery materials and recycling. To implement its growth plan, the company targets investments worth €3.5 billion to €4.5 billion between 2022 and 2030 in battery materials.


The recently announced long-term battery materials strategy of BASF lays out an ambitious growth plan for battery materials and base metal services with targeted 2030 sales in excess of €7 billion. 


Meanwhile, BASF will establish a separate mobile emissions catalysts, automotive catalysts recycling and associated precious metal services entity. The new entity will be named BASF Automotive Catalysts and Recycling.

 

The new standalone structure will prepare the business for the upcoming changes in the internal combustion engine market and allow for future strategic options. The new entity will continue to operate globally and comprise approximately 20 production sites and over 4,000 employees.

 

The carve-out process will start in January 2022 and is expected to take up to 18 months. Throughout this process, BASF’s top priority is business continuity for its customers, partners and employees.

 

“BASF continuously evaluates its portfolio and with the carve-out we want to give this business more entrepreneurial freedom and agility, so it can focus even better on the needs of its markets and customers,” told Dr. Markus Kamieth, Member of the Board of Executive Directors of BASF SE, responsible for the Surface Technologies segment.


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BASF to carve out mobile emissions catalysts business.


BASF Automotive Catalysts and Recycling will be a distinct legal entity structure, headquartered in Iselin, New Jersey, and will be led by Dirk Bremm as CEO.

 

“BASF’s mobile emissions catalysts and its recycling business units are industry leading innovators,” said Dirk Bremm. “I’m excited to work with our dedicated and talented teams to seize the opportunities ahead of us and continue to develop and deliver solutions which help our customers to meet the ever increasing emissions regulations around the world.”

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