Materials giant Covestro and new energy vehicle leader BYD have signed an MoU to create a long-term strategic partnership aimed at developing advanced material solutions for the future of mobility, energy storage and intelligent technologies.

 

The agreement marks a major step beyond a traditional supplier relationship, bringing the two companies together in a deeper collaboration across the value chain. 

 

By combining Covestro’s material science expertise with BYD’s rapidly expanding technology platforms, the partnership aims to deliver innovations for some of the world’s fastest-growing industries.

 

The collaboration will focus on automotive applications, power batteries, energy storage, public transportation and next-generation technologies, with joint innovation projects, technology development and potential strategic investment opportunities at its core.

 

For Covestro, the partnership reinforces its “Sustainable Future” strategy by supporting the development of circular solutions and strengthening its role in industries where advanced materials are becoming a critical 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.”