Indonesia Discusses Electric Vehicle Investments with Ford, Hyundai
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25 October 2022 12:56 WIB
TEMPO.CO, Jakarta - The Coordinating Minister for Economic Affairs Airlangga Hartarto in Washington D.C. on Thursday said the government is in discussions with Ford Motor Co and Hyundai Motor Co to establish operations related to electric vehicles in Indonesia.
Ford, nickel miner Vale Indonesia, and China's Zhejiang Huayou Cobalt said in July, according to a Reuters report, they had signed a non-binding memorandum of cooperation to build a plant in Indonesia to extract nickel chemicals.
Hartarto said Indonesia also is in discussions with Hyundai and South Korean battery maker LG Energy Solution over battery and EV investments.
"We have raw materials for EV battery technologies," Hartarto told an audience at the Center for Strategic and International Studies. Indonesia's large supplies of nickel, as well as semiconductor production capacity, "can support the U.S. auto industry," he said.
REUTERS
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