Foreign Players Invest in Nickel and Battery Plants, Advancing Indonesia’s Electric Vehicles Industry

Jun 2021

China’s Zhejiang Huayou Cobalt just announced a partnership with electric vehicle battery maker EVE Energy and other players for a USD 2.08 billion nickel and cobalt project in Indonesia. This will represent Huayou’s third battery nickel smelting project in Indonesia. The new site aims to produce an annual of 120,000 tons of nickel and 15,000 tons of cobalt on a metal content basis.

In addition, Huayou will also join a consortium led by South Korea’s LG, which is constructing a USD 1.2 billion electric vehicle battery plant with a capacity of 10 GWh in Bekasi, West Java. The location is close to Hyundai Motor’s first manufacturing plant, which is due to be completed by 2021. Batteries produced by the consortium are planned to be utilized by Hyundai’s electric vehicles.

These investments illustrate how Indonesia, the world’s largest nickel producer, is on its way to building a domestic elective vehicle battery industry, aiming to reach a battery capacity of 140 GWh by 2030.

(Sources: Kr Asia; Reuters)

About Us

Orissa International helps companies that want to develop a market entry strategy for Southeast Asia or implement their business expansion into the region. We have very strong domain knowledge of markets and industry sectors, and a business network of over 16,000 companies that includes distributors, resellers, system integrators and local manufacturers, that we have built through advising and guiding more than 5,000 companies with their market expansion into the ASEAN region over the last 25 years.

Orissa International is headquartered in Singapore, with additional offices in Malaysia, Indonesia, Thailand, Vietnam, and the Philippines.

Our Services