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Jokowi inaugurates first integrated EV battery project
President Joko “Jokowi” Widodo has inaugurated an integrated electric vehicle battery production site in Batang, Central Java, marking a milestone in the country's aim to become a global hub in the industry.
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President Joko "Jokowi" Widodo (front right) and LG Energy Solution president director Lee Bang Soo (front left) converse during the inauguration ceremony for an integrated electric battery site at the Batang Integrated Industrial Estate in Central Java on Wednesday. (Investment Ministry/-)
P
resident Joko “Jokowi” Widodo inaugurated an integrated electric vehicle (EV) battery production site in Batang, Central Java, on Wednesday.
The US$9.8 billion project is aimed at producing 3.5 million EV batteries annually, in collaboration with state-owned nickel and gold mining firm PT Aneka Tambang (Antam) and EV battery holding company Indonesia Battery Corporation (IBC).
The inauguration follows the signing of a memorandum of understanding between IBC and a consortium led by LG Energy Solution on Apr. 14.
“LG’s investment […] in Indonesia is the first investment in the world that integrates nickel mining, smelter construction as well as precursor and cathode factories, not to mention the battery recycling industry,” Jokowi said during the ceremony. “From upstream to downstream, everything is included in this investment.”
In total, the integrated EV battery production cluster is forecast to employ about 20,000 workers. The project is comprised of four stages.
Read also: Indonesia, LG clinch $9.8b deal to build world’s first integrated EV battery industry
The first stage is a nickel-mining project in Halmahera, which is expected to produce 16 million tons of nickel ore annually and to require investment of $300 million.
