LUDWIGSHAFEN, GERMANY/ MOSCOW, RUSSIA: BASF SE and PJSC MMC Norilsk Nickel (Nornickel) have signed a memorandum of understanding (MOU) and entered exclusive negotiations to cooperate on the supply of raw materials for future battery materials production for lithium-ion batteries in Europe.
BASF intends to invest up to €400 million in a first step to build industry-leading production plants for cathode materials in Europe. Through the prospective agreement, BASF would receive the raw materials from the Nornickel metal refinery in Harjavalta, Finland. Nornickel would also provide a secure supply of nickel and cobalt feedstock from its Russian mines at market prices.
Along with its leading raw materials position, Nornickel also brings significant metals refining and trading experience to the cooperation.
BASF is an established cathode materials provider in the Asian and US markets through BASF TODA Battery Materials LLC in Japan and BASF’s production facility in Elyria, Ohio. A cooperation with Nornickel will provide the foundation to further expand BASF’s access to the developing cathode materials market in Europe and participate in growth opportunities in this region.
The strategic cooperation will leverage both companies’ market positions and expertise to provide an optimized and secure supply chain for electric vehicle battery cell producers in Europe.
LUDWIGSHAFEN, GERMANY/ MOSCOW, RUSSIA: BASF SE and PJSC MMC Norilsk Nickel (Nornickel) have signed a memorandum of understanding (MOU) and entered exclusive negotiations to cooperate on the supply of raw materials for future battery materials production for lithium-ion batteries in Europe.
BASF intends to invest up to €400 million in a first step to build industry-leading production plants for cathode materials in Europe. Through the prospective agreement, BASF would receive the raw materials from the Nornickel metal refinery in Harjavalta, Finland. Nornickel would also provide a secure supply of nickel and cobalt feedstock from its Russian mines at market prices.
Along with its leading raw materials position, Nornickel also brings significant metals refining and trading experience to the cooperation.
BASF is an established cathode materials provider in the Asian and US markets through BASF TODA Battery Materials LLC in Japan and BASF’s production facility in Elyria, Ohio. A cooperation with Nornickel will provide the foundation to further expand BASF’s access to the developing cathode materials market in Europe and participate in growth opportunities in this region.
The strategic cooperation will leverage both companies’ market positions and expertise to provide an optimized and secure supply chain for electric vehicle battery cell producers in Europe.
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