Issue Date: July 3, 2017
BASF to invest in batteries in Europe
BASF plans to spend up to $450 million to establish battery cathode material manufacturing plants in Europe. The company says the plants will complement its facility in Elyria, Ohio, and its BASF TODA Battery Materials joint venture in Japan. As a first step, BASF is negotiating to purchase raw materials from Norilsk Nickel’s refinery in Harjavalta, Finland, and nickel and cobalt from Nornickel’s mines in Russia. BASF says it is establishing a regional supply of battery materials to serve firms that want to produce electric-vehicle power-train battery cells in Europe.
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