The first battery cell production factory for electric cars in Indonesia was opened on Wednesday by LG Energy Solution (LGES) and the Hyundai Motor Group of South Korea. The project can produce 10 gigawatt hours (GWh) of battery cells annually.
The factory, which is a part of Hyundai Motor and LGES's promise to invest up to $9.8 billion, begins a new chapter in the development of an electric vehicle supply chain in Southeast Asia's largest economy, according to the Indonesian government. This is because the country has abundant nickel and copper resources.
"Our country's mineral resources, like iron and nickel, are crucial components in batteries that will power millions of electric vehicles worldwide," stated Euisun Chung, executive chair of Hyundai Motor Group, during the factory's grand opening.
The plant is connected with Hyundai's car manufacturing, where the firm plans to begin producing 50,000 Kona Electric SUVs annually using batteries produced in Indonesia.
Additionally, Hyundai and LGES are getting ready to begin construction on the battery plant's second phase, which would add 20 GWh of capacity to the facility with a $2 billion investment.
The firms said in 2021 that they would be investing $1.1 billion in the West Java province's battery cell factory. More than 150,000 battery-powered electric cars may be powered by the batteries it produces annually.
According to a government source, Germany wants the levies to end completely.
According to President Joko "Jokowi" Widodo, the factory would create a domestic processing sector and solidify Indonesia's pivotal role in the global EV supply chain.
"This is the first and largest EV battery cell plant in Southeast Asia, and I am sure we will be able to win this competition with other countries because the nickel, bauxite and copper are here," Jokowi stated at the same gathering.
In 2020, Indonesia, the world's leading nickel producer, prohibited the export of raw nickel in order to stimulate investment in domestic nickel processing.
According to a statement from South Korea's trade ministry, Indonesia's Investment Minister Bahlil Lahadalia and South Korea's Minister for Trade Cheong Inkyo met on Wednesday to talk about collaboration in the areas of electric vehicles, petrochemicals, and clean energy technologies like carbon dioxide capture and storage.
(Sourec:www.wionnews.com)
The factory, which is a part of Hyundai Motor and LGES's promise to invest up to $9.8 billion, begins a new chapter in the development of an electric vehicle supply chain in Southeast Asia's largest economy, according to the Indonesian government. This is because the country has abundant nickel and copper resources.
"Our country's mineral resources, like iron and nickel, are crucial components in batteries that will power millions of electric vehicles worldwide," stated Euisun Chung, executive chair of Hyundai Motor Group, during the factory's grand opening.
The plant is connected with Hyundai's car manufacturing, where the firm plans to begin producing 50,000 Kona Electric SUVs annually using batteries produced in Indonesia.
Additionally, Hyundai and LGES are getting ready to begin construction on the battery plant's second phase, which would add 20 GWh of capacity to the facility with a $2 billion investment.
The firms said in 2021 that they would be investing $1.1 billion in the West Java province's battery cell factory. More than 150,000 battery-powered electric cars may be powered by the batteries it produces annually.
According to a government source, Germany wants the levies to end completely.
According to President Joko "Jokowi" Widodo, the factory would create a domestic processing sector and solidify Indonesia's pivotal role in the global EV supply chain.
"This is the first and largest EV battery cell plant in Southeast Asia, and I am sure we will be able to win this competition with other countries because the nickel, bauxite and copper are here," Jokowi stated at the same gathering.
In 2020, Indonesia, the world's leading nickel producer, prohibited the export of raw nickel in order to stimulate investment in domestic nickel processing.
According to a statement from South Korea's trade ministry, Indonesia's Investment Minister Bahlil Lahadalia and South Korea's Minister for Trade Cheong Inkyo met on Wednesday to talk about collaboration in the areas of electric vehicles, petrochemicals, and clean energy technologies like carbon dioxide capture and storage.
(Sourec:www.wionnews.com)