Hyundai And LG Energy Opens First Battery Manufacturing Plant In Indonesia
(MENAFN- AzerNews)
By Alimat Aliyeva
South Korean companies Hyundai Motor and LG energy Solutions
have opened the first factory in Indonesia for the production of
batteries for electric vehicles worth $ 1.1 billion,
Azernews reports.
The factory will produce batteries with a total capacity of 10
GW per hour. construction of the factory, located in the city of
Karawang near Jakarta, began in 2021. Indonesia is the largest
producer of nickel used in batteries.
"We have a lot of natural resources. So far, we have exported
them as raw materials. Thanks to the battery factory, we will
become an important global player in the electric vehicle
industry," President Joko Widodo said during his speech at the
plant's opening ceremony.
South Korean companies are also investing $2 billion in the
construction of a second battery production line with a total
capacity of 20 GWh per year. In total, Hyundai and LG Energy plan
to invest $9.8 billion in the development of infrastructure for the
production of electric vehicles in Indonesia.
It is worth noting that Hyundai operates an electric vehicle
manufacturing plant in Indonesia with a production capacity of
250,000 units per year.
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