Collaborative advances

Lei affirmed China's importance in Covestro's growth strategy, saying the company plans to direct three-fourths of its Asia-Pacific investment to China over the next three years. Its localization strategy is deeply rooted in understanding China's market needs, and collaborations with local companies and research institutions enhance the company's adaptability and innovation capabilities. For example, its long-term partnerships with Tongji University include an Innovation Academy focused on industrializing new innovations and talent development, as well as a Sustainability Chair dedicated to advancing circular economy solutions and green materials to support China's green transformation.

Since its establishment in 2007, the Covestro-Tongji Sustainability Chair has conducted research on topics such as the circular economy, climate change and zero-waste cities, including recent projects on plastics waste recycling in Shanghai, contributing to both the value chain and society.

This year, Covestro also signed a cooperation agreement with Maysta, China's leading polyurethane additive supplier, and the Institute of Chemical Industry of Forest Products, Chinese Academy of Forestry, to jointly advance bio-based polyurethane solutions.

Further supporting the transformation of China's automotive industry, Covestro also recently signed a memorandum of understanding with Li Auto, a leading electric vehicle maker. The partnership focuses on developing cutting-edge material solutions for future-oriented applications while enhancing circularity and reducing carbon emissions. Key areas of collaboration include advanced materials for lighting, smart systems and thermal management solutions.

"Li Auto is dedicated to implementing the 'Smart + Electric' strategy with innovative materials and designs, aiming to offer users a safer, more comfortable, convenient and refined travel experience," said Liao Mengjun, vice-president of R&D operations at Li Auto. "Our partnership with Covestro will expedite our exploration in advanced materials, supporting the ongoing enhancement of user product demands."

Covestro's journey in China reflects a long-term commitment to sustainability, innovation and collaboration — aligning with the nation's development goals while setting a model for other global companies operating in the country.