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Indonesian state companies form holding company to produce EV batteries

Sat, 10/24/2020 - 18:14 -- Vic
Nickel mine in Southeast Sulawesi

The Indonesian government has signalled its intention to move into domestic manufacture of electric vehicle batteries.

Indonesian state miners Mining Industry Indonesia (MIND ID) and Aneka Tambang (ANTAM) along with state utility Perusahan Listrik Negara (PLN) and state oil company Pertamina have formed a new joint venture: Indonesia Battery Holding.

Indonesia Battery intends to be involved in the entire battery production processes from the production of battery minerals to the manufacturing of cells and end-of-life battery recycling. The company is in talks with CATL and LG Chem to invest in the region of $12 billion to develop the supply chain.

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