LUDWIGSHAFEN (dpa-AFX) - German chemical company BASF (BFA.L, BASFY.PK) announced Wednesday that its majority-owned company in China, BASF Shanshan Battery Materials Co., Ltd., is expanding its battery materials capacity in the country to achieve 100 kt annual capacity of cathode active materials or CAM.
The company currently aims to boost its capacity at Changsha and Shuizuishan in China, to meet the fast-growing demand from the electric vehicle industry.
The commissioning of the new capacity will start from the fourth quarter.
Peter Schuhmacher, President, Catalysts division at BASF, said: 'Our manganese-rich products are well balanced in cost-performance compared to other ternary cathode materials and offer customers a higher security on lower metal cost as manganese is the most abundantly available metal compared to cobalt or nickel, which have recently been subject to significant price increases and fluctuations.'
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