LG Moves to Partake in Indonesia’s EV Battery Supply Chain

Following the construction of a battery fabrication plant in Indonesia, coupled with its joint project with IBC, LG is dominating the battery business, from upstream to downstream, in the country.

Kahfi & Stepanus I Nyoman A. Wahyudi

14 Jan 2024 - 18.58
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LG Moves to Partake in Indonesia’s EV Battery Supply Chain

LG Chem, supplier of EV batteries for electric vehicles/Korea Bizwire

Bisnis, JAKARTA — Alongside the ongoing negotiations with Antam, LG Corp, through its affiliate company LX International (LXI), has acquired shares of nickel company PT Adhi Kartiko Pratama Tbk. (NICE).

The move by the South Korea-based LXI paints a picture of LG Corp's overarching presence in the electric battery supply chain in the country. LXI's majority ownership in NICE positions LG almost as a vertically integrated player in the battery business, from upstream to downstream.

LXI, through PT Energy Battery Indonesia, became the controlling shareholder after acquiring 60% of NICE shares. To acquire this nickel mining company, LXI invested approximately IDR1.59 trillion. NICE is known to have a mining concession covering 1,975 hectares, where 100% of the ownership and mining operations are handled by the company. By the end of 2022, NICE had a production capacity of 1.4 million metric tons (MT) of nickel ore, more than three times the previous year.

Before taking control of the nickel mining company, LG had previously invested in the country, particularly in battery factories. The battery cell factory is touted as the first and largest in the ASEAN region, with an investment value of around $1.1 billion, equivalent to IDR16 trillion. To build the factory in Karawang, West Java, LG collaborated with fellow South Korean companies Hyundai Motor and Kia Motor through LG Energy Solutions (LGES).

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Asteria Desi Kartikasari
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LG Moves to Partake in Indonesia’s EV Battery Supply Chain

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