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BASF sees 7 bln eur in battery materials sales in 2030

FRANKFURT, Sept 27 (Reuters) - BASF said its battery materials business would likely generate more than 1.5 billion euros ($1.76 billion) in sales by 2023 and more than 7 billion euros by 2030 as electric vehicle production surges.

The market for cathode materials, the most complex chemical component of an automotive battery, is estimated to grow by about 21% per year until 2030, the German chemicals group said in presentation slides posted on its website on Monday.

$1 = 0.8537 euros Reporting by Ludwig Burger Editing by Riham Alkousaa

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