Indonesia Battery Corporation (IBC) and CBL International Development, a unit of China’s battery giant Contemporary Amperex Technology Co (CATL), have formed a joint venture (JV) to construct a battery cell manufacturing plant in Indonesia, according to a report by state media outlet Antara.
The joint venture, initially announced in 2022, is expected to involve an investment of up to $1.18 billion and aims to build a plant with a production capacity of 15 gigawatt hours (GWh).
Toto Nugroho, CEO of IBC, stated that the planned capacity will meet both domestic and global demand for batteries. “This capacity will be enough to meet domestic and global demand,” Nugroho was quoted as saying. Production at the plant is expected to commence in 2027.
This partnership underscores Indonesia’s ambitions to establish itself as a key player in the global electric vehicle (EV) battery industry, leveraging the country’s rich nickel reserves, a critical component for battery production.
