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

Business

Germany’s BASF (BASFn.DE) 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 (VOWG_p.DE) 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 said last month that Volkswagen was seeking closer ties with Germany’s BASF, one of the world’s largest suppliers of battery materials.