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Disinformation report hotline: 010-85061466
Laboratory of Shenzhen-based battery provider BTR, Guangdong, China. /CFP
Indonesia's President Joko Widodo inaugurated a new plant on Wednesday in Kendal, Central Java, jointly built by China's BTR New Material Group and Singapore's Stellar Investment. This facility will manufacture anode materials for electric vehicle (EV) batteries, with an initial investment of $478 million and a production capacity of 80,000 tonnes per year.
Indonesia aims to develop a robust domestic EV industry, leveraging its abundant nickel resources, crucial for battery production. President Widodo highlighted the country's strategic move, including a 2020 ban on raw nickel exports, as pivotal in building this ecosystem.
BTR plans to source graphite from its Indonesian Morowali plant for the new facility. The company is also set to invest an additional $299 million in the second phase, which is expected to double its capacity to 160,000 tonnes annually by late this year. This expansion will position Indonesia as a leading global producer of anode materials, ranking just behind China, according to He Xueqin, chairman of BTR New Material Group.
The country's efforts to foster a domestic battery and EV industry have already attracted significant investments from major players like South Korea's Hyundai Motor Group and LG Energy Solution, which recently launched Indonesia's first battery cell production integrated with Hyundai's EV manufacturing.
(With input from Reuters)