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Materials manufacturer Covestro and Chinese new energy vehicle maker BYD on Monday signed a memorandum of understanding (MoU) to establish a long-term strategic partnership focused on developing advanced material solutions for electric vehicles, batteries, energy storage systems and next-generation technologies.
The companies in a joint statement said the partnership expands their existing supplier relationship into broader collaboration across the value chain, including joint innovation, technology co-development and strategic investment opportunities aimed at accelerating innovation in mobility and energy applications.
Focus on EVs, batteries, advanced technologies
Under the agreement, Covestro will provide research and development support, customised material solutions, technical expertise and supply security, while BYD will integrate the company into new product development and technology roadmaps across its businesses. The collaboration will cover new energy vehicles, power batteries, public transportation, energy storage and emerging technology applications.
Covestro said its expertise in polycarbonate and polyurethane materials will support applications including vehicle lighting, interior and exterior components, electronic systems, battery thermal management and lightweight structures for electric vehicles.
Emphasis on low-carbon materials
The companies also committed to advancing low-carbon and circular material solutions for future mobility and energy systems. Covestro said its CQ (Circular Intelligence) materials, manufactured using at least 25 per cent alternative raw materials, will form part of the collaboration’s sustainability initiatives.
“BYD’s expanding portfolio represents some of the most exciting and demanding material challenges of our time, and that is exactly where Covestro’s depth of expertise becomes most valuable,” said Lily Wang, President of Engineering Plastics at Covestro.
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