BASF, a German chemical giant, announced on April 14 that it will invest 500 million yuan ($68.46 million) to expand its Cellasto plant in Shanghai's Pudong New Area.

As an influential global chemical enterprise, BASF has invested and maintained operations in Pudong New Area since 1994. The BASF Pudong site, established in 2000, is one of the company's major integrated sites outside of Germany.

The expansion, expected to be completed in 2027, aims to boost BASF's presence in China's fast-growing new energy vehicle market by supplying advanced Cellasto components designed for noise, vibration, and harshness management. Once completed, the plant's production capacity is expected to increase by nearly 70 percent.

"BASF has been investing substantially in China for about 140 years. The latest expansion reaffirms our commitment to the Chinese market and aims to accelerate growth in our automotive business here," said Lou Jianfeng, chairman and president of BASF China.

Source: Shanghai Observer