Huayou EV Battery Ecosystem Project in Indonesia to Use Latest Technology, Says Investment Minister
Jakarta (ANTARA) - Investment and Downstreaming Minister/Head of the Investment Coordinating Board (BKPM) Rosan Roeslani stated that the development of the electric vehicle (EV) battery ecosystem project in Indonesia with Chinese company Huayou will utilise the latest technology.
"With Huayou, we naturally want to ensure that this investment uses the most up-to-date technology," he said in Jakarta on Tuesday.
He explained that in the project dubbed the Grand Package, the technology used to manufacture EV batteries is not only the latest but also the most modern.
Furthermore, Rosan said that in the EV battery production process, the raw materials used will largely come from domestic industry.
"This will make greater use of materials available in Indonesia, namely nickel-based EV batteries," he said.
Previously, the Ministry of Investment and Downstreaming/BKPM stated it would promptly hold a meeting with Huayou, the Chinese company, to discuss the EV battery ecosystem consortium project previously led by LG.
"We are about to meet, God willing, if not this week then next week, we will meet with the Huayou side to discuss this matter and finalise details," said Deputy for Investment Promotion at the Ministry of Investment and Downstreaming/BKPM Nurul Ichwan in Jakarta on Thursday (24/4).
Nurul Ichwan explained that after confirming LG's departure from the consortium, his office would draw up a new design and plan the involvement of other parties in the EV battery ecosystem facility in the country.
"Then we will facilitate the formation of the joint venture," he said.
The EV battery project dubbed the Grand Package has already seen US$1.2 billion (Rp20.2 trillion) in realised investment, and Huayou will fill the bulk of the remaining investment amounting to US$8.6 billion (Rp145.2 trillion), through four joint ventures.
These joint ventures refer to investments in nickel mining, precursor manufacturing, cathodes, anodes, cell batteries, battery packs, and battery recycling.
"Huayou certainly will not be alone; they will cooperate with other partners whom we will also try to approach," he said.
"With Huayou, we naturally want to ensure that this investment uses the most up-to-date technology," he said in Jakarta on Tuesday.
He explained that in the project dubbed the Grand Package, the technology used to manufacture EV batteries is not only the latest but also the most modern.
Furthermore, Rosan said that in the EV battery production process, the raw materials used will largely come from domestic industry.
"This will make greater use of materials available in Indonesia, namely nickel-based EV batteries," he said.
Previously, the Ministry of Investment and Downstreaming/BKPM stated it would promptly hold a meeting with Huayou, the Chinese company, to discuss the EV battery ecosystem consortium project previously led by LG.
"We are about to meet, God willing, if not this week then next week, we will meet with the Huayou side to discuss this matter and finalise details," said Deputy for Investment Promotion at the Ministry of Investment and Downstreaming/BKPM Nurul Ichwan in Jakarta on Thursday (24/4).
Nurul Ichwan explained that after confirming LG's departure from the consortium, his office would draw up a new design and plan the involvement of other parties in the EV battery ecosystem facility in the country.
"Then we will facilitate the formation of the joint venture," he said.
The EV battery project dubbed the Grand Package has already seen US$1.2 billion (Rp20.2 trillion) in realised investment, and Huayou will fill the bulk of the remaining investment amounting to US$8.6 billion (Rp145.2 trillion), through four joint ventures.
These joint ventures refer to investments in nickel mining, precursor manufacturing, cathodes, anodes, cell batteries, battery packs, and battery recycling.
"Huayou certainly will not be alone; they will cooperate with other partners whom we will also try to approach," he said.