Battery Corporation (IBC) and South Korea's LG will set up a new battery plant
with a capacity of 10 GWh, worth $1.2 billion, in Indonesia. This deal between
LG and Indonesia was signed last year. The
plant is a part of $9.8 billion electric vehicle deal and will be set up in the
city of Bekasi which is located on the eastern border of the capital city,
timeline has been given by Bahlil Lahadalia, Investment Minister but he is
hopeful that the factory will be built in the near future. He also said that
the first phase will have a production capacity of 10 GWH. This will be later used
for electric vehicles from Hyundai.
According to the
statement, The LG consortium is a bag of different units like LG Chem, LG
Energy Solution, LG International, POSCO, and Chinese Cobalt Company, Huayou
another report, the advanced batteries that will be built by LG
Energy Solutions, will be used by Tesla Inc. in 2023 for electric vehicles.
Meanwhile, the nickel producers in Indonesia are planning to start processing
nickel laterite ore that is used in lithium batteries. The target is to become
a global hub for producing and exporting electric vehicles.
Source – Reuters
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