Chinese battery giant Contemporary Amperex Technology Co Ltd (CATL) is reportedly in talks to secure a loan of about $1 billion to support its investment plans in Indonesia, Bloomberg reported on Monday, citing sources familiar with the matter.
The financing, with a proposed term of five to seven years, would be directed toward CATL’s joint venture in Indonesia, which aims to construct a battery cell manufacturing plant in Karawang, West Java. Discussions with lenders are ongoing and terms of the loan remain subject to change, according to the report.
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CATL, through its subsidiary CBL International Development, formed a joint venture last October with Indonesia Battery Corp, a state-owned enterprise, to invest $1.2 billion in the project. The facility is designed with an annual production capacity of 15 GWh and is scheduled to become operational by 2027.
As the world’s largest electric vehicle battery manufacturer, CATL held a 38.2% global market share in the first two months of 2025, according to data from South Korea’s SNE Research. The company currently operates 13 production sites globally and has expanded manufacturing in Europe, with lithium-ion battery production already underway in Thuringia, Germany, and another plant under construction in Hungary.
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In December, CATL announced a third European venture—a $4.26 billion LFP battery plant in Spain developed in partnership with Stellantis—further reinforcing its global expansion strategy amid rising EV demand.