CATL, the Chinese battery giant, plans to invest 5 billion USD in Indonesia for a lithium-ion battery plant.
The Edge Market reports that the target is for the lithium-ion battery plant to start production in 2024. This information was conveyed by Deputy Minister Septian Hario Seto in a virtual briefing.
CATL has signed an agreement with Indonesia to ensure that 60% of the nickel will be processed in Indonesia, and not abroad.
Indonesia’s large reserve of nickel has attracted many investors including Hyundai and Tesla. Nickel is crucial for the production of lithium-ion batteries, possibly replacing petroleum fuels entirely in the future.
According to Indonesia's Investment Coordinating Board, LG Chem is considering a 9.8 billion USD investment in Indonesia for an EV battery factory integrated with a smelter.
In other news, Tesla will send its representatives to Indonesia in January 2021 to discuss possible investment in Indonesia for its supply chain.
Arif
Writer
Previously an engineer in an automotive manufacturing company and a highway concessionaire. A part-time research student on biofuels and diesel engines. Obsessed with vehicle electrification and the future of transportation.
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