BASF and Shanshan to Establish Joint Venture

Following approval from all relevant authorities, BASF and Shanshan have established the joint venture "BASF Shanshan Battery Materials Co., Ltd." The new entity will be majority-owned by BASF (BASF 51% and Shanshan 49%). The newly established company operates four facilities in Hunan and Ningxia, China, employing more than 1,600 people. It already holds a strong position in the battery materials value chain, including raw materials, precursor cathode active materials (PCAM), cathode active materials (CAM), and battery recycling. BASF brings strong technology and development capabilities for raw material supply, a global operational footprint, and strategic partnerships. Combined with Shanshan's comprehensive experience, extensive product portfolio, and scale-up capabilities, the joint venture will focus primarily on the rapidly growing electric vehicle (EV) market while continuing to serve global consumer electronics and energy storage segments. BASF and Shanshan will jointly guide the joint venture's continued growth in China with annual CAM capacity of 90 kilotons planned by 2022. Dr. Markus Kamieth, Member of the BASF Board of Executive Directors, stated: "With this investment in China, we are ideally positioned to serve the world's largest battery market. We will strengthen our strong position in China to further accelerate our battery materials growth globally."