Power Solutions International, Inc. shares fall 1.65% premarket as BASF and Hitachi Energy make significant strides in battery and energy storage technology.

Power Solutions International, Inc. declined 1.65% in premarket trading. The news event that aligns with this movement is the announcement by BASF Battery Materials, through its joint venture BASF Shanshan Battery Materials Co., Ltd. (BSBM), of a major milestone in next-generation battery technology. This collaboration with Beijing WELION New Energy Technology Co., Ltd. has successfully delivered its first batches of mass-produced Cathode Active Materials (CAM) for Semi-Solid-State batteries, marking a significant step towards industrializing Solid-State batteries. This development could potentially impact the market for Power Solutions International, Inc., as it indicates advancements in battery technology that may affect the demand for traditional power solutions.