MINISTRY OF INVESTMENT ANNOUNCES INDONESIA’S READINESS TO LAUNCH MASS PRODUCTION OF EV BATTERIES, MARKING A SIGNIFICANT MILESTONE FOR THE NATION’S AUTOMOTIVE INDUSTRY.
The Ministry of Investment revealed that Indonesia is poised to commence mass production of electric vehicle (EV) batteries in April 2024, heralding a significant advancement in the country’s automotive sector and underscoring the benefits of its down streaming policy.
Ibu Tina Talisa, Special Staff at the ministry, emphasised that down streaming represents a strategic approach to enhancing the value derived from Indonesia’s abundant natural resources, particularly nickel, a critical component in EV battery production.
Mass production will be facilitated through PT Hyundai LG Industry (HLI) Green Power, a joint venture between South Korea’s Hyundai Motor Group and LG Energy Solution, situated in Karawang, West Java, according to Bu Talisa.
This milestone not only positions Indonesia as the pioneer EV battery cell producer in Southeast Asia but also underscores the government’s unwavering commitment to fostering the development of the national EV battery ecosystem.
The commencement of mass production is anticipated to create employment opportunities for Indonesian youth, fostering the growth of a skilled workforce and catalysing economic prosperity within communities.
President Director of PT HLI Green Power, Hong Woo Pyoung, expressed the company’s readiness to initiate mass production, affirming its dedication to nurturing a cadre of proficient engineers capable of driving innovation in electric car battery cell technology.
In its initial phase, PT HLI has secured a substantial investment of US$1.1 billion and boasts a production capacity of 10 gigawatt-hours (GWh), equivalent to 32.6 million battery cells, paving the way for the production of approximately 150 thousand electric vehicles. Plans are underway to double production capacity to 20 GWh by 2025 in the second phase of development.
Source: Antara News
