Indonesian Investment Minister Bahlil Lahadalia made the announcement, but didn’t specify a time frame except that the plant would be built “in the near future”.
“The first phase of construction will have the production capacity of 10 GWh, which will later be used for EVs from Hyundai,” he said.
Earlier, Reuters reported that LG Energy Solution, the firm’s battery production division established last year, is keen to make advanced battery cells for Tesla in 2023. To that end, the former is reportedly considering setting up production sites in the US and Europe.
No doubt, all this signals a broader shift towards EVs. Indonesian officials have indicated that the country wants to produce 140 GWh worth of batteries by 2030.