Tesla, Panasonic among Indonesia's Potential Partners for EV Battery Development

TEMPO.CO, Jakarta - Indonesia is reviewing seven global companies as prospective partners in developing the EV battery industry, including big names such as Tesla and Panasonic. Selected partners will join the SOE consortium, Indonesia Battery Holding.

Agus Tjahajana Wirakusumah, head of the EV Battery Project Acceleration Team, said that from the first stage of evaluation, seven companies are seen as having the qualifications to become potential partners.

The companies are Contemporary Amperex Technology Co. Ltd. (CATL), BYD Auto Co. Ltd., and Farasis Energy Inc. from China; LG Chem Ltd. and Samsung SDI from South Korea; Tesla Inc. from the United States; and Japan's Panasonic.

The SOE consortium of Indonesia Battery Holding is set to develop integrated EV battery projects, from upstream to downstream, for an estimated investment value between US$13.4 billion and US$17.4 billion. The consortium signatories are: MIND ID, Pertamina, and Aneka Tambang (Antam), as well as foreign partners.

To date, negotiations with potential key partners, namely CATL and LG Chem, are still being held. Agus said the team was finalizing negotiations on the formation of a joint venture with the prospective partners.

"This year, we hope to complete the joint-venture agreement all the way to the investment decision," Agus said in a hearing with the House of Representatives' Commission VII on Monday, February 1.

Read: Tesla Approach Indonesia for Possible Battery Investment

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