The Germany-based chemicals company invests the sum in the battery maker after inking a joint development agreement in 2009.
Germany-based chemicals group BASF has invested $50m to take a stake in Sion Power Corporation, a maker of lithium-sulphur batteries.
The investment on Thursday follows a joint development agreement signed between BASF and Sion in 2009 to accelerate the commercialisation of Sion’s batteries for electric vehicles.
Ralf Meixner, BASF’s senior vice-president of Battery Materials, said: "Through our investment and collaboration with Sion, we are positioned to take a leadership role in developing next-generation battery material solutions, further supporting the…
