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Top Battery Makers Discuss $20 Billion Indonesia EV Plans

  • LG Chem, CATL have early agreements on new projects: ministry
  • Nation is seeking a larger role in electric vehicle industry
Inside Electric-Car Battery-maker CATL's Headquarters
Photographer: Qilai Shen/Bloomberg
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Contemporary Amperex Technology Co. Ltd. and LG Chem Ltd., two of the world’s top producers of batteries for electric vehicles, have signaled they may join projects that could see $20 billion more invested in supply chains in Indonesia, according to the country’s government.

The firms signed separate heads of agreement with Aneka Tambang Tbk last month aimed at manufacturing higher value products for batteries from the state-owned miner’s nickel output, said Septian Hario Seto, deputy for investment coordination and mining at the coordinating ministry for maritime affairs and investments.