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We have Petronas, Indonesia now has a gov-owned EV battery company

Arif · Mar 29, 2021 11:40 AM

We have Petronas, Indonesia now has a gov-owned EV battery company 01

Indonesia has officially launched the Indonesia Battery Corporation (IBC), a government-owned EV battery company, last Friday. The IBC consists of the following organizations:

  • PT Indonesia Asahan Aluminium
  • ANTM (Aneka Tambang Tbk)
  • Pertamina
  • PLN (Perusahaan Listrik Negara)

The organizations fall under Indonesia's BUMN, which is a collection of state-owned enterprises in Indonesia.

We have Petronas, Indonesia now has a gov-owned EV battery company 02

Nickel ore processing. Photo: The Jakarta Post

CNBC Indonesia reports that IBC will oversee the entire supply chain including the stages of mining, smelting, production of battery packs, stabilizing energy storage, and recycling.

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According to minister Pahala Nugraha Mansury, the investment for this matter is in the figures of USD 17 million.

The targeted production capacity is 140 GWh, with 50 GWh allocated for exports. The remaining 90 GWh is meant for local EV production. 

We have Petronas, Indonesia now has a gov-owned EV battery company 01

BUMN minister, Erick Thohir, said that IBC is already in partnership with CATL and LG Chem, two global EV battery producers. Through this partnership, IBC is expecting technology transfer from both LG Chem and CATL.

Also Read: While Malaysia dithers, Thailand and Indonesia have overtaken Malaysia in EV race

We have Petronas, Indonesia now has a gov-owned EV battery company 02

While Indonesia has taken a bold step in forming the IBC, there is yet to be any update on Tesla's investment proposal in Indonesia. Talks of Tesla investing in Indonesia have been going on since December 2020 and the status of the proposal is unconfirmed.

Indonesia’s nickel reserve contributes to 24% of the global reserve. Nickel is crucial for the production of lithium-ion batteries.

Also Read: Battery giant CATL plans USD 5 bil investment in Indonesia, lithium-ion battery production to start in 2024

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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