JAKARTA (The Jakarta Post/Asia News Network): Indonesia made the first big step toward becoming a hub for car battery and electric vehicle (EV) manufacturing in South-East Asia by embarking on the construction of a US$1.1 billion car battery factory in Karawang, West Java, last week, with production scheduled to start in mid-2024.
As part of a US$9.8 billion investment project, the factory, a joint venture of South Korean LG Energy Solution and Hyundai Group alongside Indonesian state-owned Battery Corporation, will have an initial capacity of 10 gigawatt hours of nickel-cobalt-manganese-aluminum lithium-ion battery cells to power 150,000 EVs.
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