By Kim Richters 
 

BASF SE said Wednesday that it is building a plant for the production of battery materials for electric vehicles at its location in Schwarzheide, Germany.

The German chemicals conglomerate said the plant will produce cathode active materials and will have an initial capacity to supply around 400,000 electric vehicles a year with battery materials.

Operations at the plant will start in 2022, the company said, without giving financial details for the project.

 

Write to Kim Richters at kim.richters@wsj.com

 

(END) Dow Jones Newswires

February 12, 2020 05:48 ET (10:48 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
BASF (XE:BAS)
Historical Stock Chart
From Oct 2020 to Nov 2020 Click Here for more BASF Charts.
BASF (XE:BAS)
Historical Stock Chart
From Nov 2019 to Nov 2020 Click Here for more BASF Charts.