Covestro and BYD establish a long-term strategic partnership focusing on the development and application of advanced material solutions across BYD's growing portfolio of industries. These sectors include automotive, energy storage, and next-generation technologies. The agreement will evolve the two companies’ relationship as the pair hope to drive future innovation of mobility, energy and intelligent systems.
Covestro
Covestro and BYD establish a long-term partnership
For Covestro, the partnership supports its “Sustainable Future” strategy by supporting circular solutions and driving growth in industries where material performance provides a competitive advantage.
“At Covestro, we believe in the power of material science and collaboration to drive industry transformation – and this partnership with BYD is a strong example of that,” said Lily Wang, President of Engineering Plastics at Covestro. “BYD's expanding portfolio represents some of the most exciting and demanding material challenges of our time, and that is exactly where Covestro’s depth of expertise becomes most valuable. We look forward to translating that expertise into tangible solutions together with BYD.”
“Covestro has proven itself as a trusted material innovation partner, and this agreement reflects our confidence in taking that relationship to a new level,” said Head of Materials, BYD. “As we continue to push the boundaries of what is possible in future mobility and beyond, we look forward to co-innovating with Covestro to develop the advanced material solutions that will redefine future industries and accelerate our global ambitions.”
As part of the agreement, the duo will deepen their collaboration across new energy vehicles, power batteries, public transportation, energy storage, and new technology applications. Covestro will provide dedicated R&D resources to co-develop new material technologies, volume supply security, early access to new material innovations and customised technical support. Meanwhile, BYD will proactively engage with Covestro in new projects and technology roadmaps.
Covestro’s material expertise in polycarbonate and polyurethane solutions, as well as its experience in automotive and electronics applications, complements BYD’s key application areas: new energy vehicles, power batteries & energy storage, and next-generation technologies.
Additionally, the pair 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 are made with at least 25% alternative raw materials and are a key part of this commitment.