BASF Aims to Muscle Itself Onto Battery Materials' Top Table
- German company says Europe will be the next high-growth region
- Other plants may follow existing EU400 million Europe project
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BASF SE is prepared to dig deep, pouring money and expertise into developing materials for electric-vehicle batteries to catch up with rivals like Tesla Inc. supplier Sumitomo Metals & Mining Co.
The world’s No. 1 chemical maker is adding to its expansion plans in Europe, which is emerging as the next high-growth region for batteries, said Ken Lane, BASF’s global head of catalysts. Battery makers in the market currently rely on Asian suppliers like Sumitomo that provide nickel and lithium.