AlhamduliLLAH....
This is very historic and important as it is likely to be future propulsion system
State owned and Foreign owned companies Partnership
Indonesia inks $1.1b deal with Korean firms to build EV battery cell factory
An electric vehicle is plugged in for charging. Indonesia is making progress in its plan to become a major player in the electric vehicle industry with a US$1.1 billion deal for a battery cell factory signed with South Korean automotive industry firms on Wednesday. (Shutterstock/-)
Vincent Fabian Thomas (The Jakarta Post)
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Jakarta ● Fri, July 30, 2021
Indonesia has inked a US$1.1 billion (Rp15.9 trillion) deal with a consortium of South-Korean companies to build an electric vehicle (EV) battery cell factory that will employ around 1,000 workers.
The memorandum of understanding (MoU) was signed in an online event on Wednesday by Investment Minister Bahlil Lahadalia as well as representatives of state-owned Indonesia Battery Corporation (IBC) and South Korean companies Hyundai Motor Company and LG Energy Solution.
The Korean consortium, held in equal parts by the two Korean firms, will establish a joint venture with IBC to build a battery cell facility in Karawang, West Java, with a production capacity of 10 gigawatt hours (GWh) for Hyundai's electric vehicles.
A deal signed with a consortium of South Korean automotive industry firms for a US$1.1 billion battery cell factory gets the ball rolling in Indonesia’s EV plan.
www.thejakartapost.com