Basf pauses but does not give up on the large battery recycling plant in Tarragona.

BarcelonaThe German multinational Basf keeps it "paused", but does not give up The large electric car battery recycling plant that plans to build in Tarragona, explained BASF's general manager in Spain, Carles Navarro, on Tuesday. The plant was supposed to create 200 direct jobs and the same number of indirect jobs, with significant public aid, including €100 million from the European Union.

Navarro explained that the investment is not being made due to weak electric vehicle sales. However, he is confident that the project will be resumed in the future. The plant was scheduled to begin operating in 2028. Regarding the committed European aid, Navarro explained that they have spoken with the Brussels authorities and "it remains valid," and acknowledged that without this aid, the investment "would lose its appeal." He also made it clear that Tarragona, which was once chosen over Antwerp, remains the multinational's option for building this plant.

The director of Basf in Spain has also announced that the company plans to allocate 54 million euros to investments in Spain in 2025, of which More than half will go to the Tarragona facilities for improved technology, sustainability, and a certain increase in production capacity. Regarding the trade war and tariffs that US President Donald Trump is pushing, Navarro indicated that BASF is a global company, but "they will have some effect" because everything that affects the global economy has some repercussion. He also highlighted that in the chemical sector, Europe is losing competitiveness compared to the United States because energy costs are higher and regulations are stricter.

5% growth

Basf closed the 2024 financial year with revenue of €1.426 billion in Spain, 5% more than the previous year. Navarro welcomed the fact that the 2024 results reversed the downward trend reported in 2023 and that the growth was driven by increased sales volumes, as prices fell by 4%. According to Navarro, the growth in volume "is positive because it shows that the market has recovered" during the year, and he emphasized that the increase in Spain was greater than in the rest of the world. Investments in 2024 exceeded initial forecasts of €40 million, reaching €48 million.