Hyundai Group-LG Battery Factory to Operate Next Year

The Indonesian battery factory, PT HLI Green Power, which is a collaboration between Hyundai Group and LG, will start operating next year, according to reporting from Tempo.

Acting Secretary General of the Industry Ministry, Putu Juli Ardika, said the investment value of this battery factory reached USD 1.1-billion with an initial capacity of 10 GWh. The factory is estimated to supply around 150,000 to 170,000-electric vehicles.

“The electric car battery factory is planned to be finalized in 2023, and start manufacturing to supply electric car factories in 2024,” Putu said in a written statement, quoted from Kemenparin.go.id.

There is also PT International Chemical Industry which has a production capacity of 100MWh per year and a total target production of 256 MHh per year, say Tempo, adding that the ministry is targeting nine million electric motorcycles, and 600,000-electric cars and buses by 2030. These electric vehicles are expected to contribute towards a decrease in fuel consumption by 21.65-million barrels, equal to an emission reduction of 7.9-million tonnes of CO2.

Putu said that “the development of the electric vehicles ecosystem is flourishing in Indonesia with a capacity that far surpasses the market development.”

There are five companies in Indonesia manufacturing electric buses, with a production capacity of 2,480-units per year and an investment value of IDR 36-trillion. Additionally, there are three electric car manufacturers with a total production capacity of 34,000-units per year and an investment value of IDR 2.403-trillion. Meanwhile, a total of 48-companies manufacture electric motorcycles with a production capacity of 1,427-million units per year and a total investment of IDR 818 trillion, say Tempo.

 

Source: Tempo

Stock image by Michael Marais on Unsplash

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