Indonesia–China Battery Megaproject to Start

Contemporary Amperex Technology Co. (CATL) is poised to start its EV battery project in Indonesia by January 2024.

Annasa Rizki Kamalina, Nuhansa Mikrefin Yoedo Putra & Fatkhul Maskur

9 Des 2023 - 14.03
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Indonesia–China Battery Megaproject to Start

A prototype electric car charges under solar panels near Contemporary Amperex Technology Co.'s headquarters. (CATL) in Ningde, Fujian, China, Wednesday (3/6/2020)./Bloomberg-Qilai Shen

Bisnis, JAKARTA — Contemporary Amperex Technology Co. (CATL) is confirmed to soon commence the construction of an electric vehicle (EV) battery project in Indonesia in January 2024, as announced by Investment Minister Bahlil Lahadalia after his visit to China in early December 2023.

Bahlil said in addition to his visit during the Indonesia Investment Marketing event held in Shanghai, China, he also confirmed the investment from China's largest battery manufacturer, CATL. According to him, CATL will be conducting its groundbreaking in January 2024. “They are ready for groundbreaking in January 2024,” he told the media after the 2023 Investment Coordination Meeting at Balai Kartini on Thursday (7/12/2023).

CATL has committed to investing with the state-owned enterprise (SOE) consortium, Indonesia Battery Corporation (IBC), to develop an integrated EV battery project in Indonesia, covering from upstream to downstream. The Chinese battery manufacturer is entering through its subsidiary, PT Ningbo Contemporary Brunp Lygend Co, Ltd. (CBL). In the Dragon battery project, CATL has committed to investing approximately $6 billion, equivalent to IDR92.48 trillion (assuming an exchange rate of IDR15,349 per US$).

In December 2023, CATL, through CBL, reportedly signed an agreement with PT Aneka Tambang Tbk. (Antam) for the upstream side of the battery project. Both companies will form a joint venture on the upstream mining side. In this process, Antam will divest 49 percent of its shares in the nickel mining concession managed by their subsidiary, PT Sumberdaya Arindo, to the subsidiary controlled by CBL, Hong Kong CBL Limited (HKCBL).

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Asteria Desi Kartikasari
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Indonesia–China Battery Megaproject to Start

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