Indonesia, Britain jointly invest in electric vehicle batteries production

Indonesia and Britain are planning to build an electric vehicle battery supply chain, Indonesia's Coordinating Minister for Maritime and Investment Affairs Luhut Binsar Pandjaitan said on Wednesday. Pandjaitan made the disclosure at a national coordination meeting and an investment service award event in Jakarta.

He said in the joint investment, the two countries are planning to set up production facilities both in Indonesia and Britain. He said yesterday President (Joko Widodo) spoke with PM (Prime Minister) Boris Johnson, and he was there, encouraging cooperation. He said Britain and Indonesia will invest in each other, that way, they can enter the global supply chain earlier.

Pandjaitan said the joint investment cooperation is expected to meet the demand for cathode and battery cells for electric vehicles in Britain and Europe. According to him, the demand is expected to continue increasing until 2030. The materials for electric vehicle batteries and battery precursors will be produced in Indonesia by an Indonesian-British joint investment company.

Indonesian President Joko Widodo had secured a 9.29 billion U.S. dollars green investment commitments during meetings with a number of CEOs of large companies on the sidelines of the 26th session of the Conference of the Parties (COP26) to the UN Framework Convention on Climate Change, held in Britain.