Indonesia Says CATL Plans To Invest $5 Billion In Lithium Battery Plant: Report

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  • The deputy minister, Septian Hario Seto, told a virtual briefing that the lithium battery plant will start production in 2024.
  • He said that CATL has signed an agreement with Indonesian state miner PT Aneka Tambang requiring CATL to ensure 60 per cent of nickel be processed into batteries in Indonesia

As per a report by Reuters, , Indonesia’s deputy minister at the coordinating ministry of maritime and investment affairs said that Contemporary Amperex Technology (CATL) plans to invest $5 billion in a lithium battery plant in Indonesia. The report said that deputy minister, Septian Hario Seto, told a virtual briefing that the lithium battery plant will start production in 2024.

The report added that he said that CATL has signed an agreement with Indonesian state miner PT Aneka Tambang requiring CATL to ensure 60 per cent of nickel be processed into batteries in Indonesia. He said that the country does not want them to get our nickel but then process it abroad. CATL did not immediately respond to a request for comment as per the report.

Global hub for producing and exporting electric vehicles

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The report said that Indonesia aims to start processing its rich supplies of nickel laterite ore for use in lithium batteries as part of the goal to eventually become a global hub for producing and exporting electric vehicles (EVs). The report added that Indonesia’s Investment Coordinating Board said in June that LG Chem was considering a $9.8 billion investment in an electric vehicle battery factory integrated with a smelter.

Just recently, Reuters reported that Tesla will send delegations to Indonesia next month to discuss potential investment in a supply chain for its electric vehicles, the government said in a statement.

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