LG Energy Solution will build a US$1.2 billion battery factory in the Indonesian city of Bekasi, east of Jakarta, together with the state-owned Indonesia Battery Corporation (IBC), according to a media report. The initial annual capacity is to be 10 GWh.Weiterlesen Oct 14, 2020 - 03:40 pm
LG Energy Solution to set up battery plant in Indonesia
LG Energy Solution will build a US$1.2 billion battery factory in the Indonesian city of Bekasi, east of Jakarta, together with the state-owned Indonesia Battery Corporation (IBC), according to a media report. The initial annual capacity is to be 10 GWh.
This is what the news agency
Reuters writes with reference to corresponding information from the Indonesian Minister of Investment. The minister did not give a time frame, but said that the factory would be built for the equivalent of one billion euros “in the near future”. The cells produced there are to be used, among other things, in Hyundai’s electric cars.
Meanwhile, Malaysia and the Philippines continued to report thousands of new
COVID-19 cases.
On May 24, Malaysia confirmed 6,509 new cases, short below
the record number of 6,976 cases announced one day earlier, together with 61
deaths. So far, the country has seen more than 500,000 infections, including 2,309 deaths.
The same day, the Philippines’ Department of Heath also reported 4,973 new
COVID-19 cases, raising the national count to more than 1.18 million.
Additional 39 deaths were also reported, pushing the country’s COVID-19 death
toll to 19,938.
The Philippines has given 4 million COVID-19 vaccine shots to locals. As of May
22, nearly 1 million out of the more than 110 million-strong population of the country had
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Indonesia announced that government-owned Indonesia Battery Corporation (IBC) and South Korean electronics giant LG will be building a new electric vehicle (EV) battery factory worth US$1.2 billion (~RM5 billion) with the capacity of 10 gigawatt hours (GWh).
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According to a Reuters report, the factory is part of a larger US$9.8 billion (~RM40.6 billion) EV deal signed between LG and Indonesia last year. It’s set to be constructed in the city of Bekasi, which lies on the eastern border of Jakarta.
Indonesian Investment Minister Bahlil Lahadalia made the announcement, but didn’t specify a time frame except that the plant would be built “in the near future”.
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