Southeast Asia’s first and largest electric vehicle battery factory officially commenced operations in Jawa Barat Province, Indonesia. The factory will be operated by PT Hyundai LG Indonesia (HLI) Green Power, a joint venture between Hyundai Motor Company, LG Energy Solution, and PT Indonesia Battery Company (IBC). The factory will initiate its first phase with an investment of $1.1 billion and an annual capacity of 10GWh, sufficient to meet the demand for over 150,000 units of electric vehicles. And future production expansion is also planned, aiming to increase capacity to 20GWh by 2025.
During the factory’s opening ceremony, Indonesia’s president announced the country’s goal of producing 600,000 electric vehicles by 2030.
Additionally, it is reported that the factory will produce battery cells, which PT Hyundai Energy Indonesia will assemble into battery packs for Indonesian-manufactured Hyundai Kona electric vehicles. The facility plans to annually produce up to 50,000 Battery Systems Assembly (BSA) units for Battery Electric Vehicles (BEVs). And unlike the LFP batteries used by Chinese electric vehicle brands, Hyundai uses NMC lithium-ion batteries.
Source: WeChat Official Account—鑫椤锂电
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