PT. HLI Battery Project 2024

In early July 2024, President Jokowi inaugurated the electric battery project from PT. HYUNDAI LG INDUSTRI (HLI) Green Power, which is a consortium of Hyundai and LG companies, is also the largest electric car battery factory in Southeast Asia.

After the inauguration of PT. HLI Green Power, Jokowi said that Indonesia is ready to enter the global supply chain. Before producing EV batteries, the construction of the battery factory will also be balanced with the construction of raw materials, smelters and precursors.

Minister Bahlil Lahadalia reported that LG's investment in the electric car battery project had reached more than US$ 9.8 billion. This is the largest investment in the electric car manufacturing ecosystem in Indonesia, which will later be targeted to produce 600 thousand units of electric vehicles by 2030. This production can reduce emissions by up to 160 thousand tons per year or the equivalent of reducing fuel imports by 45 million liters per year , as well as saving on fuel subsidies which reach IDR. 131 billion per year.

Source: tempo.co Friday, 5 July 2024