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BASF Announces Spin-off of Motor Vehicle Emissions Catalyst Business

 Last Update: 2021-12-24
 Source: Internet
 Author: User

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With the development of electrification of automobiles, the auto industry is undergoing the biggest transformation in history

On December 7, BASF announced that it would spin off its automotive emission catalyst business and will invest 4.

BASF stated that it will further focus on the recycling of battery materials and basic metals, and will establish an independent entity for vehicle emission catalysts, vehicle catalyst recycling and related precious metal services

Regarding the reasons for splitting the automotive emission catalyst business, BASF said that it is to better respond to the upcoming changes in the automotive market and to lay the foundation for future strategic choices

The spin-off process will begin in January 2022 and is expected to last 18 months

In addition, BASF will further focus on its business related to electric transportation

Peter Schuhmacher, President of BASF’s Catalyst Business Unit, said: “BASF will become a leader in innovative and sustainable cathode active materials, with large-scale production capacity deployments in Asia, Europe and North America

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