BASF and SK On to collaborate in global lithium-ion battery market

BASF, a global battery materials producer, and SK On, a global electric vehicle battery cell manufactuer, entered into an agreement to jointly evaluate collaboration opportunities in the global lithium-ion battery market, with a focus on North America and Asia-Pacific.

The collaboration will facilitate strong business and product development capabilities to develop industry-leading battery materials for lithium-ion batteries. By leveraging their respective expertise, BASF and SK On aim to develop innovative solutions in the lithium-ion battery market.

Jee Dong-seob (left), President and Chief Executive Officer of SK On, and Dr. Peter Schuhmacher, President of BASF’s Catalysts division, confirm their collaboration after their meeting at SK Seorin Building in Seoul.

Initially, the two partners will focus on evaluating collaboration for cathode active materials (CAM) production. In addition, collaboration opportunities along the battery materials value chain, including battery recycling, will be evaluated subsequently.

Sustainability plays a key role for both partners in line with the principle of the “Value Balancing Alliance”, which is working on a global standard for measuring a company’s social, economic and environmental contribution, and translating environmental and social impacts into comparable financial data.

“With the collaboration with SK On, we are further strengthening our market position to serve battery manufacturers and electric vehicle producers around the world,” said Dr. Peter Schuhmacher, President of BASF’s Catalysts division, who is also responsible for the company’s battery materials and battery recycling business.

“The collaboration with BASF is part of our efforts to bolster battery materials supply chain,” said Jee Dong-seob, President and Chief Executive Officer of SK On.