Politics
Hyundai and LG open first EV battery manufacturing plant in Indonesia
South Korean automaker Hyundai Motor Group and battery maker LG Energy Solution today (July 3) inaugurated a new $1.1 billion electric vehicle (EV) battery cell manufacturing plant in Indonesia.
The new facility, developed by HLI Green Power, a joint venture between Hyundai and LG, is the first in the country and is located in Karawang, West Java. It was first announced in 2021.
With an area of 320,000 m², the new factory in Karawang New Industry City can produce 10 GWh of battery cells per year, enough to power more than 150,000 electric vehicles. Hyundai and Kia electric models will use the cells produced at the factory.
HLI Green Power aims to create a complete local EV ecosystem that includes raw material sourcing, battery and vehicle production, charging network support, and battery recycling. Indonesia has an abundance of natural resources needed for EV production, especially nickel.
Indonesian President Joko Widodo said: “We have an abundance of natural resources, but for decades we have exported them only as raw materials without added value. Now, with the construction of smelters and the EV battery cell factory, we will become a major global player in the global EV supply chain.”
Hyundai Executive Chairman Chung Eui-sun added: “This country’s mineral resources, such as iron and nickel, are key components of the batteries that will power millions of electric vehicles worldwide.”
Hyundai's investment in Indonesia adds to its recent $2 Billion Electric Vehicle Battery Plant Coming to Georgia, Chennai electric vehicle assembly plant worth $2.4 billion And $128 million electric vehicle battery plant in Navarra, Spain.
“Hyundai, LG Open First EV Battery Manufacturing Plant in Indonesia” was originally created and published by Investment Monitora brand owned by GlobalData.
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