German chemical giant BASF launches waste battery recycling business

According to foreign media reports, German chemical giant Basf announced recently that the company plans to cooperate with French companies Eramet and Suez in the recycling of used batteries for electric vehicles. The plan aims to compete for a favorable position in the battery recycling market. BASF announced that it had received funding from the European Commission totalling 4.7 million euros (about 36.82 million yuan) to promote the formation of innovative lithium-ion battery recycling business closed-loop and promote the production of lithium-ion batteries for electric vehicles in Europe. It is known that the automotive lithium-ion battery recycling project created by the above three companies is called "ReLieVe", and the three companies will vigorously develop the lithium-ion battery recycling project in January 2020. The project brings together the expertise of three companies in the recycling process. Suez collects and disassembles used batteries, Echman recycles battery components, and Basf produces cathode materials for lithium batteries.

Jean-Marc Boursier, Suez's chief operating officer, predicts that "by 2027, battery recovery in Europe will be about 50,000 tons. By 2035, that number will probably double 10 times. Laurent Joncourt, chairman of Ehrman's R&D division, also said that the ReLieVe project responded positively to the call of the European Commission to accelerate the expansion of the rapidly growing lithium-ion battery market. As the world's leading chemical giant, BASF has been devoted to the development and production of battery cathode materials with higher energy density and more reliable performance. Prior to this, BASF has also established a partnership with Sinopec to explore opportunities for developing innovative battery materials in China. As for the joint venture of BASF and two other companies to enter the European battery recycling market, Daniel Sch? Nfelder, vice president of BASF Battery Material Europe Business Management, said that BASF believed that the recycling process would play an increasingly important role in the promotion of electric vehicles, and would be able to foster innovation together with its partners. Sustainable and competitive European battery market value chain.