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BASF, Porsche to develop high-performing lithium-ion batteries

·1 min read

BERLIN (Reuters) - Germany's BASF said on Wednesday it has been chosen as the exclusive partner to develop high-performing lithium-ion batteries for electric vehicles with Cellforce Group, a joint venture between Porsche and Customcells.

As part of the collaboration, BASF will provide materials for high-performance battery cells for fast charging and high energy density. Cellforce Group will produce the high-performing battery.

Sources told Reuters last month that Volkswagen was seeking closer ties with Germany's BASF, one of the world's largest suppliers of battery materials."

(Writing by Madeline Chambers; Editing by Riham Alkuosaa)