Electric Vehicles Boom, Battery Downstreaming Becomes Antam's Future

Indonesia is currently aggressively building an integrated electric vehicle (EV) battery factory ecosystem as part of its downstreaming efforts to increase added value. This push is supported by the country’s large reserves of nickel, the main raw material for battery components. One integrated upstream-to-downstream battery ecosystem project is being developed by PT Aneka Tambang (Antam), Indonesia Battery Corporation (IBC), and Chinese company Ningbo Contemporary Brunp Lygend Co. Ltd. (CBL), a joint venture between CATL, Brunp, and Lygend. The project was previously included in the list of National Strategic Projects (PSN) with an investment value reaching US$5.9 billion, or approximately Rp105.25 trillion (assuming an exchange rate of Rp17,839 per US dollar). The project consists of a total of six joint ventures (JVs) from upstream to downstream. Specifically, JVs one to three form the upstream battery ecosystem, while JVs four to six form the downstream battery ecosystem. President Prabowo previously performed the groundbreaking for the project in the Artha Industrial Hills (AIH) area, Karawang, West Java. Prabowo called the integrated battery project an important step in encouraging the downstreaming of Indonesia’s natural resources, particularly nickel commodities which are the main raw material for electric vehicle batteries. The government also estimates the project will absorb around 8,000 direct workers and drive economic growth in the surrounding area through the construction of various supporting infrastructure, including industrial estates and a multipurpose dock. Meanwhile, Antam President Director Untung Budiharto explained that the company is committed to accepting a special assignment from the government to accelerate the nickel downstreaming programme and the development of the national electric vehicle battery ecosystem. “Through various integrated strategic projects, Antam is not only increasing added value but also supporting the strengthening of national industrial independence and Indonesia’s position in the global industrial supply chain,” he said, quoted on Wednesday (1/7/2026). The assignment includes the development of an integrated nickel-based battery ecosystem from upstream to downstream, covering mining activities, construction of RKEF/RKSBF plants, HPAL facilities, refineries, precursors, cathodes, battery cells, and battery recycling facilities. The development of this ecosystem is expected to increase the added value of national mineral resources, expand the company’s revenue sources, strengthen long-term business resilience, and support sustainable growth. Throughout 2025, Antam’s nickel ore production reached 16.11 million wet metric tons (wmt), an increase of 62% compared to the FY24 production achievement of 9.94 million wmt. In terms of marketing, nickel ore sales were recorded at 14.58 million wmt, growing 75% compared to 8.35 million wmt in 2024. Driven by increasing domestic demand, 2025 marked Antam’s highest nickel ore production and sales performance in more than a decade since the imposition of the mineral export ban. For ferronickel products, amid domestic regulatory dynamics throughout 2025, Antam maintained operational stability by recording production of 16,064 tons of nickel in ferronickel (TNi), with a sales volume of 10,528 TNi.