Get 40% Off
👀 👁 🧿 All eyes on Biogen, up +4,56% after posting earnings. Our AI picked it in March 2024.
Which stocks will surge next?
Unlock AI-picked Stocks

BASF, Porsche to develop high-performing lithium-ion batteries

Published 07/21/2021, 03:38 AM
Updated 07/21/2021, 03:41 AM
© Reuters. FILE PHOTO: A logo of Porsche is seen outside a Porsche car dealer, amid the coronavirus disease (COVID-19) outbreak in Brussels, Belgium May 28, 2020. REUTERS/Yves Herman

BERLIN (Reuters) - Germany's BASF said on Wednesday it has been chosen as the exclusive partner to develop high-performing lithium-ion batteries for electric vehicles with Cellforce Group, a joint venture between Porsche and Customcells.

As part of the collaboration, BASF will provide materials for high-performance battery cells for fast charging and high energy density. Cellforce Group will produce the high-performing battery.

Sources told Reuters last month that Volkswagen (DE:VOWG_p) was seeking closer ties with Germany's BASF, one of the world's largest suppliers of battery materials."

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.