Indonesia Battery Corporation, CATL subsidiary CBL enter JV for battery cell plant; production to start 2027 - paultan.org

Posted in International News / By Mick Chan / October 18 2024 1:07 pm

The Indonesia Battery Corporation (IBC) and Contemporary Amperex Technology Company (CATL) unit, CBL have formed a joint venture for the construction of a battery cell manufacturing plant, Reuters reported citing Indonesian news agency Antara.

The new joint venture is expected to invest up to US$1.18 billion (RM5.08 billion) on a battery cell plant that has a planned capacity of 15 GWh, Indonesia Battery Corporation CEO Toto Nugroho was quoted as saying. This project is located in Karawang, West Java.

This production capacity “will be enough to meet domestic and global demand”, Nugroho said. Battery manufacture at the plant is expected to begin in 2027, reported Reuters.

Last December, CBL was reported to be investing US$420 million (RM1.94 billion) into Indonesia’s nickel mining and EV battery manufacturing industries, which will see CBL invest in a joint venture project with state-owned miner PT Aneka Tambang (Antam) and IBC.

The announcement of CBL’s investment came after it signed a framework agreement in 2022 for the development of an EV battery integration project in Indonesia, which is to cover nickel mining, EV battery materials, EV battery production and battery recycling.

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