EV battery makers LG, Foxconn will invest in Batang Industrial Estate, Indonesia.
Minister of Investment and chief of BKPM Bahlil Lahadia said that 1,000 hectares of land for the second phase of Batang Integrated Industrial Estate (KITB) in Central Java, will welcome EV battery manufacturers such as South Korea’s LG and Taiwan’s Foxconn.
Bahlil Lahadia, Minister of Investment and chief of BKPM said during the ceremony of Batang Integrated Industrial Estate’s Second Phase Initiation:
In the second phase, LG will enter [and occupy] about 275 hectares, followed by Foxconn. Companies for America, if they enter, will be in the third phase.
Bahlil said that his ministry is targeting to have 50 percent of the Batang Terpadu Industrial Estate’s 4,300 hectares area occupied.
🔥 What about we co-host a webinar? Let's educate, captivate, and convert the battery economy!
Batteries News is the global go-to online magazine for the battery industry, we can help you host impactful webinars that become a global reference on your topic and are an evergreen source of leads. Click here to request more details
Meanwhile, LG Energy Solution president Lee Bang Soo said that the LG consortium’s grand package project investment in the Batang Terpadu Industrial Estate (KITB), Central Java, will support the production of 3.5 million units and 200 gigawatts of EV batteries per year.
Lee Bang Soo, LG Energy Solution president said, adding that LG will work closely with the Indonesian government and PLN to operate a factory with recycled energy in line with global ESG trends:
The Batang Industrial Area will be the most important EV industrial area in Southeast Asia for the future.
The LG consortium will cooperate with PT Aneka Tambang (Antam) and Indonesia Battery Corporation (IBC) to mass-produce EV batteries. In September, the two parties will sign a joint venture agreement on nickel mining with an investment value of US$9.8 billion. The project will absorb 20,000 workers.
READ the latest Batteries News shaping the battery market
Bahlil: EV Battery Makers LG, Foxconn Will Invest in Batang Industrial Estate, TEMPO.CO, Jakarta, June 8, 2022
