Indonesia’s first production plant for battery cells for electric vehicles was officially launched on Wednesday by South Korean carmaker Hyundai Motor Group and battery manufacturer LG Energy Solution as the Southeast Asian country looks to take advantage of its raw material supply to move up the EV value chain. Hyundai Motor Group partnered in 2021 with LG Energy Solution to build an EV battery cell plant in Karawang, near the Indonesian capital Jakarta. The companies invested $1.
The EV battery plant is integrated with Hyundai’s car manufacturing plant, where it expects to begin production of 50,000 units per year of Kona Electric, an SUV that would use Indonesian-made batteries.
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