Heaptalk, Jakarta — Indonesia’s President, Joko ‘Jokowi’ Widodo, inaugurated the first electric vehicle battery cell factory owned by PT Hyundai LG Indonesia (HLI) Green Power in Karawang, West Java. (07/03)
In his remarks, this seventh President of the archipelago delivered, “Today we have started a new chapter in laying a milestone in our commitment to become a global player in the battery cell EV and electric vehicle ecosystem. I appreciate Hyundai’s Chairman Chung’s bravery in determining this significant measure.”
Jokowi also appreciates Jokowi appreciated the investment in the Hyundai car factory, which reached USD1.2 billion, approximately Rp20 trillion, and the consortium between Hyundai and LG with an investment value of USD9.7 billion (around Rp160 trillion) for the electric battery ecosystem. According to him, this investment is concrete evidence of strategic cooperation between Indonesia and South Korea.
Furthermore, the President conveyed that this project covers the construction of a smelter and electric vehicle battery cell factory and integrates added value from Indonesia’s natural resources such as nickel, bauxite, and copper. Through this integration, the President expressed optimism about Indonesia’s capability to compete with other countries.
During the inauguration agenda, several Indonesian Ministers and other government parties accompanied the President, including Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Minister of Investment/Head of the Investment Coordinating Board Bahlil Lahadalia, Minister of Industry Agus Gumiwang Kartasasmita, Minister of State-Owned Enterprises Erick Thohir, Chief of Presidential Staff Moeldoko, and Acting West Java Governor Bey Machmudin.
As known, this 319,000 square-meter battery cell plant is a joint venture between Hyundai Motor Group and LG Energy Solution. In the first half of 2024, the plant’s annual capacity will reach 10 GWh of battery cells, enabling 150,000 electric vehicle charging capacity.
South Korean representatives, including Minister of Trade of the Republic of Korea Inkyo Cheong, Ambassador of the Republic of Korea to Indonesia Lee Sang-deok, Executive Chair of Hyundai Motor Group Euisun Chung, and President of LG Energy Solution Dongmyung Kim, also attended the agenda.
