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CATL, China's largest battery producer, plans to expand its presence
in Indonesia's electric vehicle hub by partnering with a local Indonesian state-owned group to build a $5.
97 billion complex with operations ranging from mining to battery manufacturing.
It is reported that CATL will participate in the project with PT Aneka Tambang and PT Industri Baterai Indonesia, which covers everything from nickel mining to battery materials, recycling and electric vehicle battery factories
.
The Southeast Asian country aims to become a major player in the EV supply chain, linked to its large reserves of nickel, an important battery material
.
CATL is already present in Indonesia, and Chinese companies, including Tsingshan Holdings, play an important role
in the country's nickel industry.
"The Indonesia project is an important milestone for CATL to expand its business globally, and it will become a symbol of evergreen friendship between China and Indonesia," Zeng Yuqun, founder and chairman of CATL, said
in a statement on Friday.
The project will be based in North Maluku Province
, Indonesia.
The joint venture is still subject to approval by the company's shareholders and regulators
.
CATL, China's largest battery producer, plans to expand its presence
in Indonesia's electric vehicle hub by partnering with a local Indonesian state-owned group to build a $5.
97 billion complex with operations ranging from mining to battery manufacturing.
It is reported that CATL will participate in the project with PT Aneka Tambang and PT Industri Baterai Indonesia, which covers everything from nickel mining to battery materials, recycling and electric vehicle battery factories
.
The Southeast Asian country aims to become a major player in the EV supply chain, linked to its large reserves of nickel, an important battery material
.
CATL is already present in Indonesia, and Chinese companies, including Tsingshan Holdings, play an important role
in the country's nickel industry.
"The Indonesia project is an important milestone for CATL to expand its business globally, and it will become a symbol of evergreen friendship between China and Indonesia," Zeng Yuqun, founder and chairman of CATL, said
in a statement on Friday.
The project will be based in North Maluku Province
, Indonesia.
The joint venture is still subject to approval by the company's shareholders and regulators
.
