The Chinese cellmaking giant, through its subsidiary CBL International Development, formed the venture with government-owned Indonesia Battery Corporation, Bloomberg reported, quoting a statement from the companies. The project in Karawang, West Java, aims to scale up battery production to 15 gigawatts a year, the report added.
The Chinese cellmaking giant, through its subsidiary CBL International Development, formed the venture with government-owned Indonesia Battery Corporation, the companies said in a statement. The project in Karawang, West Java, aims to scale up battery production to 15 gigawatts a year.
CATL, through its subsidiary CBL International Development, will work together with the Indonesia Battery Corporation (IBC), which is owned by the government, in this project, as announced by both parties. The signing of the interim agreement and the deed of establishment for the joint venture took place in Jakarta on Wednesday, October 16.
The project, which will be built in Karawang, West Java, aims to increase battery production to 15 gigawatts per year. The development of this project will be carried out in stages, with plans for the factory to begin operations in 2027.
The project in Karawang, West Java, aims to scale up battery production to 15 gigawatts a year, the report added. The move also marks an important step toward Indonesia’s goal to build out a complete supply chain for electric vehicles, a key aim launched by outgoing President Joko Widodo.
Earlier this year Hyundai Motor Group and LG Energy Solution Ltd opened the first-ever battery cell plant in the country, while China’s BTR New Material Group launched an anode material plant, the report said.
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