Indonesia has officially launched a $5.9 billion electric vehicle (EV) battery project, in a move to stride toward national energy independence, according to the Antara news agency on Sunday.
The project, known as the Integrated Electric Vehicle Battery Industry Ecosystem, is spearheaded by a consortium composed of state-owned mining company PT Aneka Tambang Tbk (ANTAM), Indonesia Battery Corporation (IBC), and the China-based CBL consortium, which includes CATL, Brunp, and Lygend.
Indonesian President Prabowo Subianto laid the first stone of the project’s foundation on Sunday at a ceremony held at the Artha Industrial Hills area in Karawang district, located in West Java.
The project is under development across its full value chain and includes six subprojects—five in East Halmahera, North Maluku, and one in Karawang, according to the news agency.
Recognized as one of Indonesia’s National Strategic Projects (PSN), it involves a total investment of $5.9 billion and covers 3,023 hectares (7,470 acres).
The initiative is projected to create approximately 8,000 jobs and facilitate the construction of 18 supporting infrastructure developments, such as a multifunctional port.
Indonesia has the largest nickel reserves in the world, a crucial component in EV batteries.
By Berk Kutay Gokmen
Anadolu Agency
energy@aa.com