LG to build 1.2-billion-USD EV battery plant in Indonesia
State-owned Indonesia Battery Corporation (IBC) and LG Corporation of the Republic of Korea will cooperate in building a new battery plant worth 1.2 billion USD with the capacity of 10 GWh in the Southeast Asian country.
Jakarta (VNA) - State-owned Indonesia BatteryCorporation (IBC) and LG Corporation of the Republic of Korea will cooperate inbuilding a new battery plant worth 1.2 billion USD with the capacity of 10 GWhin the Southeast Asian country.
Indonesian Investment Minister Bahlil Lahadalia said on May24 that the plant, part of a bigger 9.8 billion USD electric vehicle dealbetween LG and Indonesia signed last year, will be built in Bekasi city, on theeastern border of the capital Jakarta.
The minister did not specify a timeframe but said thefactory would be built in the near future.
In the first phase, the plant will have a productioncapacity of 10 GWh, which will later be used for EVs from Hyundai, he added.
Indonesia is aiming o produce 140 GWh worth of batteriesby 2030, officials have said./.
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