According to foreign media reports, Indonesian State-owned Enterprise Minister Erick Thohir (Erick Thohir) said on Friday local time that a consortium from China will invest US$5 billion in an electric car battery joint venture in Indonesia. The consortium members will Including China's battery research and development manufacturer Ningde Times New Energy Technology Co., Ltd. (CATL).

Tohir made this statement during his visit to China, referring to a deal concluded at the end of last year. According to the content of this transaction, CATL will invest US$5 billion in a lithium battery factory in Indonesia, and the factory will start production in 2024.

According to Reuters in mid-December last year, quoting a ministerial official from the Indonesian Ocean and Investment Coordination Department, CATL plans to invest US$5 billion to build a lithium battery factory in Indonesia, and the lithium battery factory will start production in 2024. .

The Reuters report also stated that Indonesia's goal is to use its rich domestic laterite nickel ore resources for the processing and production of lithium batteries, hoping to build Indonesia into one of the global electric vehicle production and export centers.

In addition to investors from China, the Indonesian Investment Coordination Committee stated in June last year that South Korea’s LG Chemical Company is also considering investing US$9.8 billion to build an electric car battery factory integrated with a smelter in Indonesia. In addition, there is news that the Indonesian government said at the end of last year that American automaker Tesla Inc. is also considering sending a delegation to Indonesia to negotiate and discuss the possibility of investing in Indonesia to establish its electric vehicle supply chain. (Tianmen Mountain)

Source: NetEase Technology Report, translated by Google Translate