Indonesia Sets Target to Produce EV battery in 2024

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electric vehicle
(Source: Wuling)

Jakarta, IO – The Indonesian government has been promoting the development of battery-powered electric vehicles to all levels of society, including the automotive industry players. Thus, it is optimistic that production can start in 2024.

Investment Minister/Investment Coordinating Board (BKPM) head Bahlil Lahadalia revealed that South Korea-based LG Electronics Inc. has agreed to build a lithium battery plant in Karawang, West Java, reported CNBC Indonesia, Friday (13/1).

“We have created several policies to spur the development of electric car battery ecosystem. According to our plan and estimate, the production can start in the first half of 2024 at LG plant in Karawang,” Bahlil said after a meeting presided by President Joko Widodo at the Merdeka Palace.

Read: World Bank projects global economy to only grow 1.7% in 2023

Apart from LG, Bahlil revealed that a Chinese company Contemporary Amperex Technology Co (CATL) will also play a role in developing the battery industry for electric vehicles in Indonesia. The two companies will cooperate with PT. Aneka Tambang and Indonesia Battery Corporation from the raw material extraction, manufacturing to recycling. The smelters to extract the metal will also adopt green energy principles. (bp)