Politics
Indonesia opens largest EV battery factory in Southeast Asia
Indonesia reached a major milestone in its electric vehicle (EV) ambitions on Wednesday with the launch of its first EV battery plant in West Java. President Joko Widodo hailed the facility as “the largest in Southeast Asia,” marking a new chapter in the country’s efforts to become a global player in the EV supply chain.
The plant, a joint venture between South Korea's Hyundai Motor Group and LG Energy Solution (LGES), has an initial production capacity of 10 gigawatt hours (GWh) of battery cells per year. It is part of a larger $9.8 billion electric vehicle battery deal signed between Indonesia and LG in 2020.
Highlighting Indonesia's transition from a raw material exporter to a value-added manufacturer, Widodo said: “We have abundant natural resources, but for decades we have only exported them as raw materials without added value. But now, with the construction of electric vehicle smelters and battery cells, we will become a major global player in the global electric vehicle supply chain.”
The plant will initially supply batteries for Hyundai's electric vehicles, with plans to power 50,000 Kona Electric SUVs. The joint venture, PT HLI Green Power, aims to invest $2 billion to double the plant's capacity to 20 GWh.
Hyundai Motor Group Executive Chairman Euisun Chung highlighted Indonesia’s potential as Southeast Asia’s largest auto market, with access to 700 million potential customers in the region. He also highlighted the importance of Indonesia’s mineral resources, particularly iron and nickel, as key components for electric vehicle batteries.
(Source: AFP)
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