SK On to partner with Germany's BASF for battery production and utilization = South Korean report

On the 15th, battery giant SK On announced that it is exploring cooperation in the production of cathode materials with German chemical giant BASF. Both companies serve the North American and Asia Pacific markets.
We plan to continue cooperating with the two countries. The management team, including SK On's President Ji Dong-seop and BASF Catalysts Division President Peter Schumacher, met in Seoul in early November and agreed to cooperate.
We are having a discussion about power. Initially, the two companies will cooperate in the field of cathode materials, and will expand their cooperation to various fields across the entire battery value chain, including the reuse of waste batteries.
I'm going to grow it. In this regard, BASF supplies cathode active materials used in lithium Eon batteries, providing solutions in the field of sourcing major metals and reusing waste batteries.
We are focusing on the In 2019, the two companies launched “Value Balancing,” an initiative to develop a standard model for measuring the value of money.
We have pursued sustainability by jointly launching the Alliance (VBA). SK On's President Chi said, ``Thanks to our cooperation with BASF, we will be able to improve our raw materials.
We can expect that the supply network will be further strengthened. In the future, we will expand our cooperation with BASF in fields other than cathode materials, ahead of the global battery market."
BASF President Schumacher expressed his expectations, saying, ``By collaborating with SK-ON, we will be able to expand our influence in the electric vehicle (EV) battery market.''