South Korean automotive manufacturer Hyundai Motor Group and battery manufacturer LG Energy Solution have today (3 July) inaugurated a new $1.1bn electric vehicle (EV) battery cell manufacturing facility in Indonesia.
The new facility, developed by HLI Green Power, a joint venture between Hyundai and LG, is the first in the country and is located in Karawang, West Java. It was first announced in 2021.
Spanning 320,00sqm at the Karawang New Industry City, the new facility can produce 10GWh of battery cells a year – enough to power over 150,000 EVs. Hyundai and Kia EV models will use the cells produced at the plant.
HLI Green Power is aiming to create a comprehensive local EV ecosystem that includes sourcing raw materials, producing batteries and vehicles, supporting charging networks and recycling batteries. Indonesia has an abundance of natural resources needed for the production of EVs, in particular nickel.
Indonesian President Joko Widodo said: “We have an abundance of natural resources but for decades we only exported them as raw materials with no added value. Now with the construction of smelters and the EV battery cell factory, we will become an important global player in the EV global supply chain.”
Chung Eui-sun, executive chair of Hyundai added: “Mineral resources in this country, such as iron and nickel, are key components for batteries that will mobilise millions of EVs all over the world.”
Hyundai’s Indonesia investment adds to that of its recent $2bn Georgia EV battery plant, $2.4bn Chennai EV assembly plant and $128m EV battery plant in Navarre, Spain.
“Hyundai and LG open Indonesia’s first EV battery manufacturing plant” was originally created and published by Investment Monitor, a GlobalData owned brand.
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