BASF: up to 4.5 billion. euros for battery materials and recycling

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BASF: up to 4.5 billion. euros for battery materials and recycling-euros

With the transition to electric mobility, the automotive industry is currently undergoing the most comprehensive transformation in its history. As the largest chemical supplier for the automotive industry, BASF now wants to further strengthen its focus on battery materials and battery recycling and create a separate unit for exhaust gas catalysts, their recycling and the associated unit for precious metal services. The new entity will be called BASF Automotive Catalysts and Recycling.

“BASF is positioning itself as a leading supplier of innovative and sustainable cathode materials with extensive production capacities in Asia, Europe and North America,” said Dr. Peter Schuhmacher, head of BASF’s Catalysts division. “The recently released long-term battery materials strategy outlines an ambitious growth plan for battery materials and base metals services. For the year 2030, a turnover of more than 7 billion euros is targeted. To implement this growth plan, BASF expects to invest between 3.5 and 4.5 billion euros in battery materials between 2022 and 2030.”

With this strategic focus on battery materials and the reorganization of the catalytic converter business, BASF intends to continue offering its customers in the automotive industry sustainable and innovative solutions. With the new, independent organizational structure, the business is to be prepared for the upcoming changes in the market for combustion engines and future strategic options are to be made possible. The new unit will continue to operate globally at around 20 production sites with over 4,000 employees.

The spin-off process will start in January 2022 and is expected to take up to 18 months. During this phase, business continuity is a top priority for customers, partners and employees.

“BASF is proud of the impactful innovations developed by the teams in the catalytic converter, catalytic converter recycling and associated precious metals businesses. Our main focus remains on competitive, cost-efficient and innovative solutions. As a result, we have developed strong customer relationships and good earnings,” says Dr. Markus Kamieth, member of the Board of Executive Directors of BASF SE and responsible for the Surface Technologies segment. “BASF continuously evaluates its portfolio. With the spin-off, we want to give this business greater entrepreneurial freedom and agility so that market and customer needs can be even more focused.”

As a separate legal entity, BASF Automotive Catalysts and Recycling will be headquartered in Iselin, New Jersey and led by Dirk Bremm as CEO. “The BASF business units for catalytic converters and recycling are leaders in the industry with their innovations,” says Bremm. “I am really looking forward to working with our dedicated and talented teams. Together we will seize future opportunities and continue to develop and offer solutions so that our customers can comply with increasingly stringent emission regulations worldwide.”

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1 thought on “BASF: up to 4.5 billion. euros for battery materials and recycling”

  1. “BASF is proud of the impactful innovations developed by the teams in the catalytic converter, catalytic converter recycling […] businesses. […] BASF continuously evaluates its portfolio. With the spin-off, we want to give this business greater entrepreneurial freedom and agility […].”

    (emphasis mine, once translated into clear language:)
    BASF will soon divest itself of this line of business.

    Reply

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