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Indonesia to set up $2 billion EV fund with China's CATL, CMB International

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JAKARTA : The Indonesia Investment Authority, the country's sovereign wealth fund, is to set up a green electric vehicle (EV) fund of at least $2 billion with China's battery maker CATL and CMB International, the fund's CEO said on Monday.The announcement was made in a live-streamed business conference on

JAKARTA : The Indonesia Investment Authority, the country's sovereign wealth fund, is to set up a green electric vehicle fund of at least $2 billion with China's battery maker CATL and CMB International, the fund's CEO said on Monday.INA CEO Ridha Wirakusumah then signed an agreement for the partnership with company executives from CATL and CMB International.

"With CATL and CMB International as the main partners, we are looking for limited partners to invest in the green EV fund, to seize this EV value chain opportunity primarily in Indonesia," Ridha said.

 

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Indonesia's EV fund gets backing from CATL, CMB InternationalJAKARTA : The Indonesia Investment Authority, the country's sovereign wealth fund, is to set up a green electric vehicle (EV) fund of at least $2 billion with China's battery maker CATL and CMB International, the fund's CEO Ridha Wirakusumah said on Monday.The announcement was made in a livestreamed busin
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