Indonesia says building $1.2 billion battery plant with S.Korea’s LG
JAKARTA (Reuters) – State-owned Indonesia Battery Corporation (IBC) and South Korea’s LG will assemble a model new battery plant worth $1.2 billion with the potential of 10 gigawatt hours (GWh), Indonesia’s funding minister talked about on Monday.
The plant, part of a fair larger $9.8 billion electrical car deal between LG and Indonesia signed ultimate yr, will probably be constructed inside the metropolis of Bekasi, on {the japanese} border of the capital Jakarta.
Investment Minister Bahlil Lahadalia in an announcement did not specify a timeframe nonetheless talked about the manufacturing facility might be constructed “inside the near future”.
“The first a part of improvement could have the manufacturing functionality of 10 GWh, which might later be used for EVs from Hyundai,” he added.
The LG consortium consists of assorted LG fashions, collectively with LG Chem, …