Japan – The two companies will establish a joint venture focused on the production, marketing and sales of the cathode active materials (CAM) used for lithium-ion (Li-ion) batteries in electric vehicles (EVs). This will include nickel cobalt aluminium oxide (NCA), lithium manganese oxide (LMO) and nickel cobalt manganese (NCM).
Under the terms of the proposed agreement, BASF and TODA KOGYO will combine their CAM businesses, intellectual property and production assets to offer a broader cathode materials portfolio. BASF will have majority ownership.
According to Tadashi Kubota, president of TODA KOGYO, synergies achieved by the partnership will “greatly strengthen” the four factors that are “vital” for the growth of the Li-ion battery market: product development, quality, productivity and supply capacity.