Indonesia launches first EV battery plant in Southeast Asia

Indonesian President Joko Widodo (right) speaks with Hyundai Motor Group Executive Chairman Chung Eui-sun (center) during an inspection of the battery and electric vehicle manufacturing plant by PT Hyundai LG Indonesia-Green Power in Karawang, West Java. (Photo: AFP/Indonesian Presidential Palace)

The plant, located in Karawang city, West Java, belongs to PT HLI Green Power, a joint venture between Indonesia’s Battery Corporation and Korean manufacturers Hyundai Motor Group and LG Energy Solution (LGES).

With an investment of 1 billion USD, the plant can produce up to 10 Gigawatt hours (GWh) of battery cells every year to provide to 150,000 EVs.

PT HLI Green Power is expected to spend 2 billion USD to raise the plant's capacity to 20 GWh.

The plant is part of a 9.8 billion USD EV battery deal signed between Indonesia and LG in 2020.

Speaking at the inauguration ceremony, Indonesian President Joko Widodo emphasised that the opening of the factory marks a new chapter demonstrating Indonesia's desire to become a global partner in the EV supply chain.

Meanwhile, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan affirmed Indonesia's readiness to be a key player in the global EV supply chains.

Indonesia has the world's largest nickel reserves and the reserves of iron, copper, and bauxite which are important components of EV batteries./.

VNA

Source: https://en.vietnamplus.vn/indonesia-launches-first-ev-battery-plant-in-southeast-asia-post289592.vnp