July 08, 2024 | 2024

Indonesia Ready to Become Key Player in EV Supply Chains: Luhut

Indonesia ready to become key player in EV supply chains: Luhut

Karawang, West Java (ANTARA) – Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan affirmed Indonesia’s readiness to be a key player in the global electric vehicle (EV) supply chains.

The minister made the statement on account of Indonesia’s abundant natural resources, such as nickel, which is the main material of EV batteries.

“Indonesia is ready to be a key player in the global supply chains for electric vehicles from upstream to downstream,” he remarked at the inauguration of the EV and battery ecosystem factory of Hyundai-LG Indonesia (HLI) Green Power in Karawang, West Java, on Wednesday.

He noted that Indonesia can be a key player in the world’s EV production ecosystem, considering that the current global demand for EVs is growing at an unprecedented rate.

The International Energy Agency (IEA) estimates that the global use of EVs by the end of 2024 will reach 17 million vehicles, with sales increasing 25 percent higher than the previous year.

Furthermore, Pandjaitan stated that the inauguration of HLI Green Power’s lithium battery and EV ecosystem factory is a strategic step by the Indonesian government to realize economic improvement and make Indonesia a leader in EV production in Southeast Asia.

“This strategic step does not only improve our economy but also create thousands of jobs, push innovations, and develop the skills of our workforce,” he remarked.

The minister earlier stated that the inauguration of HLI Green Power’s factory in Karawang is a form of the Indonesian government’s commitment to achieving net zero emissions (NZE) by 2060.

The factory, built through collaboration between Indonesia and South Korea, is the biggest lithium battery and EV factory in Southeast Asia that can annually produce 50 thousand units of electric cars.

Source from ANTARA News

Original News HERE