China’s CATL Teams Up With Indonesian State-Run Firms on USD6 Billion EV Battery Project
Xu Wei
China’s CATL Teams Up With Indonesian State-Run Firms on USD6 Billion EV Battery Project
(Yicai Global) April 15 -- Contemporary Amperex Technology is partnering with two Indonesian state-owned enterprises to develop a USD6 billion electric car battery project, that spans the length of the industrial chain from raw materials mining to battery recycling, in the Southeast Asian country to improve the Chinese battery giant’s industrial layout.
CATL will invest a maximum of USD4 billion and the rest will be provided by PT Aneka Tambang and PT Industri Baterai Indonesia, the Ningde, southeastern Fujian province-based company said today.
The project, which will be based in an industrial park in North Maluku Province’s East Halmahera region and other industrial parks around the country, will encompass nickel mining, smelting, battery materials production, manufacturing and battery recycling, the battery giant said.
It will enhance CATL’s strategic layout in the lithium battery sector by securing the supply of raw materials, reducing production costs and advancing battery recycling, the firm said.
ANTAM is engaged in mineral mining, as well as trading, transportation and service businesses related to mining. IBI is an investment firm that focuses on battery manufacturing and related projects in Indonesia and overseas.