Japan Mulls Joining China, Korea to Build EV Battery in Indonesia

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  • TEMPO.CO, Jakarta - Mining and Industry Indonesia (MIND ID) said that investors from Japan may also join Indonesia's nickel battery downstream joint-project, along with electric vehicle or EV battery makers from China and South Korea.

    MIND ID Group CEO Orias Petrus Moedak said that the joint project is still welcoming other potential partners.

    "Some have made approaches, but not as far as China and Korea. We are looking at a possibility from Japan, but for now [it is certain for] Korea and China," Orias said in a media discussion, Thursday, October 15,.

    The world's two largest EV battery manufacturers, Contemporary Amperex Technology Co. Ltd. (CATL) from China and LG Chem Ltd. from South Korea had signed a head of agreement with Aneka Tambang or Antam. The agreement for the battery project is worth US$12 billion or roughly Rp180 trillion.

    In this integrated upstream to downstream battery industry project, the companies will establish Indonesia Battery Holding (IBH); involving MIND ID, Pertamina, and PLN.

    IBH and the subsidiaries of those three companies — as well as partners from abroad — will then form joint ventures for each sector.

    Orias hopes that the battery industry will go hand in hand with the development of the domestic electric car industry. If the domestic demand is small, Orias said that output can be allocated for exports, global supply.

    Read: Indonesia, Japan Cooperate in Developing Electric Car

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