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Tie-ups: Covestro/BYD partner for mobility, energy and advanced technologies; Sabic/Rongsheng in deal for materials project in China

Covestro/BYD partner for mobility, energy and advanced technologies

BYD and Covestro have signed a Memorandum of Understanding to establish a long-term strategic partnership focused on advanced material solutions

Materials manufacturer Covestro and vehicle producer BYD have entered into a MoU focused on developing and applying advanced material solutions across BYD's growing portfolio of industries, including automotive, energy storage, and next-generation technologies.

Under the MoU, the two companies say they will deepen their collaboration across new energy vehicles, power batteries, public transportation, energy storage, and new technology applications. The partnership will include joint innovation initiatives, technology co-development and strategic investment opportunities.

Covestro will provide dedicated R&D resources to co-develop new material technologies, volume supply security, early access to new material innovations and customized technical support.

BYD in turn commits to proactively engaging Covestro in new projects and technology roadmaps across its entire business portfolio.

Covestro’s material expertise in polycarbonate and polyurethane solutions complements BYD’s key application areas:

  • New energy vehicles: Proven material solutions in lighting, premium interior and exterior, and intelligent electronic components, delivering both aesthetic and functional value for smart mobility.

  • Power batteries & energy storage: Lightweight, high-performance materials that balance safety, thermal management, and cost efficiency across EV and residential applications.

  • Next-generation technologies: High-performance polymer solutions engineered for extreme demands – combining lightweight construction, structural integrity, thermal and electrical management, and durability to enable complex technology platforms of the future.

Beyond product co-development, the two companies say they are committed to advancing low-carbon and circular material solutions that reduce the environmental footprint of next-generation mobility, energy and intelligent systems.

Covestro’s CQ (Circular Intelligence) labelled materials, made with at least 25% alternative raw materials, form a key part of this commitment.

Sabic/Rongsheng in deal for materials project in China

Meanwhile in other news, Saudi Basic Industries Corporation (Sabic) announced the signing of a Project Development Agreement (PDA) with Rongsheng Petrochemical Co Ltd (Rongsheng Petrochemical) and its wholly owned subsidiary Rongsheng New Materials (Zhoushan) Co Ltd. to jointly advance the development of the Jintang New Materials Project in Zhoushan, Zhejiang Province, China.

Under the PDA, Sabic and Rongsheng are evaluating a potential equity investment by Sabic up to 50% of Rongsheng New Materials, positioning the project as a strategic collaboration between two leading global petrochemical companies. The agreement also establishes a framework for project development activities towards a potential final investment decision (FID).

The Jintang New Materials Project is designed to enhance production capabilities for advanced chemical materials and support growing demand from key downstream industries in China and Asia.

The project is expected to leverage world-class technologies, integrated manufacturing capabilities and operational excellence to strengthen competitiveness, foster innovation and create long-term value for all stakeholders.

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