BASF to expand battery materials production in China

Jun. 15, 2022 7:51 AM ETBASF SE (BASFY)By: Carl Surran, SA News Editor5 Comments

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BASF (OTCQX:BASFY) said Wednesday it will expand its production capacity of cathode active materials in China, as it looks to meet strong demand in the electric vehicle industry.

The company said the production expansion will enable its BASF Shanshan Battery Materials subsidiary, which operates in the Chinese provinces of Hunan and Ningxia, to reach capacity of 100K tons/year of cathode active materials.

Commissioning of the new lines will start from Q4 2022 and will produce manganese-rich products as well as high-nickel and ultrahigh-nickel nickel-cobalt-manganese oxide for polycrystalline and single crystalline.

Seeking Alpha contributor Wolf Report wrote recently that BASF (OTCQX:BASFY) is its top German holding, in a bullish analysis published a month ago.

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