Hyundai Motor Group and LG Energy Solution have secured US$710 million in loans and guarantees for
Debt guarantees will be provided by Hyundai Motor Company, Kia Corporation, Hyundai Mobis and LGES, porportionate to the value of their respective stakes in the project, while credit guarantees will be provided by trade insurer Korea Trad Insurance Corporation.for the construction of an EV battery plant in the Karawang region, east of Jakarta in Indonesia, and the goal for the battery plant is to enter mass production in the first half of 2024, the news agency reported.
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