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Indonesia launches enterprise to make batteries to power EVs

Christian Fernsby |
Indonesia launched a business enterprise that will produce batteries to power electric vehicles.

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Topics: INDONESIA   

Called PT Indonesia Battery Holding, the new venture was formed by four state-owned enterprises, namely mining holding MIND ID, metal miner Aneka Tambang (Antam), oil and gas giant Pertamina and electricity monopoly PLN. Each company owns a 25 percent of stake.

"I think this is a long journey since a year ago when we made a transformation," the country's State-owned Enterprises (SOE) Minister Erick Thohir said at a press conference in Jakarta.

"With the EV batteries, Indonesia will be stronger and more friendly to the green economy," the minister said.

Deputy SOE minister Pahala Mansury said that Indonesia Battery Holding was expected to produce 140-gigawatt hours (GWh) worth of batteries by 2030. Of the total of production, 50 GWh will be exported.

Thohir said that Indonesia Battery Holding was currently partnering with Chinese battery manufacturer and technology company Contemporary Amperex Technology (CATL) and South Korean chemical company LG Chem. The two firms will invest to make batteries for EVs.

CATL and LG Chem, he said, will produce batteries for electric cars, while the Indonesian firms will produce batteries for electric motorbikes.Thohir said that the government will open up more opportunities to other parties.

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