Covestro advises Guangzhou Automobile

Leverkusen-based specialty chemicals group Covestro will advise Guangzhou Automobile (GAC) on design and materials, the company announced. The announced cooperation is based on a previous collaboration with GAC, in which Covestro produced seatbacks for GAC’s EVs. China is Covestro’s second-largest market with sales of €2.25 billion last year, accounting for about 21 percent of total sales. Covestro’s cumulative investment in China was more than €3.6 billion at the end of 2019. Covestro was formed in 2015 from the spin-off of the Bayer MaterialScience business unit from Bayer AG. niw