Categories

A sample text widget

Etiam pulvinar consectetur dolor sed malesuada. Ut convallis euismod dolor nec pretium. Nunc ut tristique massa.

Nam sodales mi vitae dolor ullamcorper et vulputate enim accumsan. Morbi orci magna, tincidunt vitae molestie nec, molestie at mi. Nulla nulla lorem, suscipit in posuere in, interdum non magna.

Europe: Analysis: BASF to take on Asia’s battery chemicals makers

FRANKFURT (Reuters) – BASF need not be worried by dominant Asian players’ expertise in batteries as the world’s largest chemicals maker looks to become a leading provider of materials at the heart of next-generation electric cars.

The German group will invest roughly 500 million euros ($609 million) by 2016 trying to become a major force in a market that could be worth tens of billions of dollars in less than a decade.

Analysts say it is a gamble worth taking as the car industry looks to develop electric vehicles (EVs) with a range up to 250 km from about 2017.

The playing field is essentially level because all players, such as Japanese groups Hitachi Chemical <4217.T> and Mitsubishi Chemical <4188.T>, will enter new territory – the battery industry’s move from powering mobiles to making the driving force for cars will lift everyone out of their comfort zone.
More chicagotribune.com

Share

1 comment to Europe: Analysis: BASF to take on Asia’s battery chemicals makers

Leave a Reply