Battery materials producer BASF and cell maker SK On have entered into an agreement to jointly evaluate collaboration opportunities in the global lithium ion battery market focused on North America and Asia Pacific.

The collaboration brings together strong business and product development capability to develop industry leading materials for lithium ion batteries.

Initially, BASF and SK On will focus on evaluating collaboration options for cathode active materials (CAM) production. Further details will be revealed later.

Additional collaboration opportunities along the battery materials value chain will be evaluated subsequently, including recycling.

“With the collaboration with SK On, we are further strengthening our market position to serve battery manufacturers and electric vehicle producers around the world.” said Peter Schuhmacher, president of BASF’s catalysts division, who is also responsible for the battery materials and battery recycling business.

“The collaboration with BASF is part of our efforts to bolster the battery materials supply chain,” said Jee Dong-seob, president and CEO of SK On.