Indonesia to create firm to build up electric vehicle battery industry

In this news, we discuss the Indonesia to create firm to build up electric vehicle battery industry.

JAKARTA (Reuters) – A group of Indonesian state-owned companies will form a company to make batteries to power electric vehicles, the chief executive of Mining Industry Indonesia (MIND ID) said on Tuesday.

Indonesia, the world’s largest producer of nickel ore, a key component of EV batteries, wants to build an integrated EV industry that will eventually include vehicle construction.

The new company, called Indonesia Battery Holding, would be formed by state miners MIND ID and Aneka Tambang (ANTAM), public utility Perusahan Listrik Negara (PLN) and state oil company Pertamina, the managing director said. from MIND ID, Orias Petrus Moedak.

“We are preparing a concrete cooperation plan, so that the project to use nickel can start immediately, to produce batteries,” he said in a webinar.

The company would help build an industry that would aim to cover everything from producing chemicals and minerals for batteries to manufacturing the units themselves, as well as recycling old batteries, Orias said.

The company would partner with Chinese and Korean companies on two projects worth $ 12 billion, Orias said, without giving further details.

Orias said state miner ANTAM will also be working on related EV battery projects, including high pressure acid leach (HPAL) foundry and electric rotary kiln (RKEF) projects worth 2 to $ 3 billion. He did not give details.

Reporting by Bernadette Christina Munthe; Written by Fathin Ungku; Editing by Edmund Blair

Original © Thomson Reuters Corporation

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