Economy & Politics

Chemical industryMartin Brudermüller: “Electromobility is a huge opportunity for BASF”

BASF boss Martin Brudermüller imago images / Sven Simon

BASF boss Martin Brudermüller sees electromobility as a key business area for the chemical company. That “we will drive electrically in the future is a huge opportunity for BASF” said Brudermüller in an interview with Personal-Financial.com (issue 10/2020). For battery materials alone, the manager expects “a market of around 30 billion euros in 2025”. The reason: “An electric car has a lot more chemistry in it than a car with a combustion engine.”

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This does not only affect the battery: “You have to make the car lighter. You need good temperature management and infrared protection so that you can air condition the car. The interior is equipped with modern plastic. Everything chemistry! ”, Said the head of the Dax group in an interview with Personal-Financial.com. In view of this potential, Brudermüller pleaded for battery development to come from Europe. BASF is currently expanding its plant in Schwarzheide in the south of Brandenburg. The company produces cathode materials for batteries there, and Tesla will also be one of the customers.

At the same time, the CEO admitted that “BASF’s business is only slowly recovering”. The numbers went in the right direction, but he “thinks it is possible that it will take about two years for BASF to return to pre-crisis levels”. Because of the Corona crisis, he cannot currently make a “sustainable forecast for the second half of the year”.

BASF is suffering massively from the global standstill in the automotive industry, the most important customer group of the Ludwigshafen-based chemical company. BASF generates around 20 percent of its sales in this segment. Brudermüller: “A lot was canceled. There were weeks in April and May in which we didn’t produce a single kilo of paint for any car in the world. ”Whether or not BASF will have to cut jobs beyond the announced 6000 job cuts depends on further developments. “We will accelerate the planned job cuts and implement them by the end of the year. The plan was to take place by the end of 2021,” said the BASF CEO.


You can read the complete interview in Personal-Financial.com 10/2020. interested in Personal-Financial.com? Here is the Subscription shopwhere you can order the print version. Our digital edition is available at iTunes and GooglePlay


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