JAKARTA (Reuters) – South Korean company LG Energy Solution (LGES) and Hyundai Motor Group have started construction of a $ 1.1 billion factory to manufacture batteries for electric vehicles (EVs) in Indonesia, in the part of a push by the Southeast Asian nation to mine its rich nickel reserves.
In a video released Wednesday, Indonesian President Joko Widodo said the plant was the first installation of batteries for electric vehicles in Southeast Asia and signaled the government’s commitment to use its nickel resources to develop industries. downstream.
“Indonesia has the largest nickel reserves in the world and with this potential, I believe that in the next three to four years, with good management, Indonesia will be the main producer of nickel products, such as batteries, ”Jokowi said, as chairman. widely known, said at a groundbreaking ceremony.
The battery factory in the Indonesian province of West Java is part of a $ 9.8 billion investment plan https://www.reuters.com/world/asia-pacific/indonesia-says-98- bln-ev-battery-mou-agreed- with-lg-energy-solution-2020-12-30 for LGES, according to Indonesian Investment Minister Bahlil Lahadalia, covering the nickel and battery supply chain.
Jong-hyun Kim, managing director of LGES, which is 100% owned by LG Chem Ltd, said in a virtual address that the batteries will be produced using the company’s latest technology and installed in various Hyundai electric vehicles. Motor and Kia Motors Corp.
Construction of the plant will be completed by the first half of 2023, a joint statement from Hyundai Motor Group and LGES said, adding that serial production of battery cells at the new plant is expected to begin in the first half of 2024.
When fully operational, the facility is expected to produce 10 gigawatt hours (GWh) of NCMA (nickel-cobalt-manganese-aluminum) lithium-ion battery cells annually to power more than 150,000 electric vehicles.
In addition, the facility will be ready to increase its production capacity up to 30 GWh to meet future growth, the statement said.
Hyundai Motor Group and LGES plan to develop a battery industry in Indonesia, as well as electric vehicle assembly plants and charging infrastructure.
“Through the development of these industries, an electric vehicle ecosystem will be successfully developed in Indonesia, and I am further convinced that Indonesia will play a key role as a hub of the electric vehicle market in Southeast Asia. Hyundai Motor President Euisun Chung said.
(Reporting by Bernadette Christina Munthe in Jakarta and additional reporting by Heekyong Yang in Seoul; writing by Fransiska Nangoy; editing by Ed Davies)
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]