LUDWIGSHAFEN (dpa-AFX) - Chinese energy technology company Contemporary Amperex Technology Co., Limited or CATL announced Thursday a strategic partnership with BASF SE (BFA.L, BASFY.PK) on battery materials solutions, including cathode active materials or CAM and battery recycling.
Under the collaboration, the companies will develop a sustainable battery value chain, in support of CATL's localization in Europe. It also contributes to achieving both companies' global carbon neutrality goals.
CATL has launched its project to build up its first European factory in Germany to localize lithium-ion battery production. With this, it is accelerating the development of a local supply chain for European customers and consumers.
Through the partnership with BASF, CATL targets to improve its European service capabilities by developing a localized battery recycling network and a secure raw material supply chain in the region.
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