China’s largest battery producer CATL (Ningde Times) plans to develop a US$5.968 billion electric vehicle battery integration project in partnership with two Indonesian state-owned enterprises to capitalize on the auto industry’s larger shift towards batteries – Power Vehicles and Indonesia ambition to become a major hub for the industry. A subsidiary of Shenzhen-listed CATL signed with Indonesia’s PT Aneka Tambang and PT Industri Baterai Indonesia in a joint statement on April 15, the companies said in a joint statement on April 15. Agreement to develop the project in the region. The main facilities of…
China’s largest battery producer CATL (Ningde Times) plans to develop a US$5.968 billion electric vehicle battery integration project in partnership with two Indonesian state-owned enterprises to capitalize on the auto industry’s larger shift towards batteries – Power Vehicles and Indonesia ambition to become a major hub for the industry.
A subsidiary of Shenzhen-listed CATL signed with Indonesia’s PT Aneka Tambang and PT Industri Baterai Indonesia in a joint statement on April 15, the companies said in a joint statement on April 15. Agreement to develop the project in the region. Main Facilities The project will be located at the FHT Industrial Park in East Halmahera, North Maluku Island, which houses several nickel-cobalt mines and processing facilities.
Focus on battery supply chain
The project will focus on nickel mining and processing, battery materials, battery manufacturing and battery recycling, the statement said. However, it did not specify how much each partner would invest. The joint venture also requires approval from the company’s shareholders and regulators.
Indonesia aims to become a major player in the EV supply chain based on its large reserves of nickel and cobalt, important materials for nickel and cobalt Lithium-ion batteries power everything from laptops to mobile phones to electric cars. CATL already has a presence in Indonesia, and Chinese companies, including Tsingshan Holding Group, play a major role in the country’s nickel industry.
“Major Milestones”
“The Indonesia project is an important milestone in CATL’s global expansion, and it will become a symbol of the lasting friendship between China and Indonesia,” Zeng Yanhong, founder and chairman of CATL, said in a statement, adding, “We are very excited about the project. The future development is full of confidence.”
Zeng said that the Indonesian project will ensure the supply of upstream raw materials and resources, reduce manufacturing costs, and promote the development of battery recycling business.
