BASF and CATL Sign Agreement for Carbon Neutrality

BASF and CATL sign agreement to accelerate global carbon neutrality targets BASF SE (BASF) and Contemporary Amperex Technology Co., Limited (CATL) have established a strategic partnership on battery material solutions, including cathode active materials (CAM) and battery recycling. The collaboration aims to develop a sustainable battery value chain to support CATL's localization in Europe and contribute to both companies' achievement of global carbon neutrality targets. The partnership commits to providing leading solutions as well as services for new energy applications worldwide. CATL has initiated a project to establish its first European factory in Germany to localize lithium-ion battery production. Through this, it is accelerating the development of a local supply chain for European customers and consumers. Dr. Markus Kamieth, Member of the BASF Board of Executive Directors, stated: "The transition to electromobility requires strong partnerships across the value chain. Combining BASF's strong position as a supplier of cathode active materials with CATL's expertise in lithium-ion batteries will accelerate innovation and the formation of a globally sustainable battery value chain." Through its partnership with BASF, CATL aims to enhance its European service capabilities by developing a localized battery recycling network in the region and securing a reliable raw materials supply chain.