BASF's development of new power battery formulations reduces costs by up to 20%.

Overseas media reported that BASF plans to introduce a new formula for powered batteries for new energy vehicles that will reduce dependence on nickel and cobalt, effectively controlling costs. When the formula is adjusted, the new battery will improve the battery life of the all-electric model.
, BASF is working with mainstream companies in the field of new energy vehicle manufacturing to develop power batteries with lower cobalt content
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. Sources say the companies' research and development team is working on new battery formulations to reduce dependence on higher-priced non-ferrous metals such as nickel and cobalt. In the new formulation, manganese, which has large reserves and is more affordable, may be used as an alternative. BASF's ultimate goal is to develop a new battery that will reduce the use of cobalt metals to 5% or less.
2021, BASF will design new battery negative materials with 20% nickel and 70% manganese, respectively, according to foreign media reports. It is expected that the battery formulation adjustment will help to reduce the energy storage costs of the battery from the current 50 USD/kW (approximately RMB348/kW) to US$40/kW (RMB 278/kW) at a cost reduction of approximately 20%.
BASF estimates that demand for high-grade nickel, which is mainly used to make negative on-board batteries for electric vehicles, will increase from 25,000 tonnes in 2016 to 318,000 tonnes by 2025.