In its efforts to expand its market share in the automotive sector, Hyundai has recently announced the inauguration of its first electric vehicle battery plant in Indonesia.
The electric vehicle battery plant, located in Karawang, West Java, is developed by HLI Green Power – a joint venture between battery manufacturer LG Energy Solution and Hyundai. This is Hyundai’s first electric vehicle battery plant in Southeast Asia.
The new plant plays a significant role not only in Hyundai’s electric vehicle supply chain but also for Indonesia. The Southeast Asian nation boasts the world’s largest reserves of nickel, a crucial component in electric vehicle battery production.
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With its abundant reserves of nickel, bauxite, and copper, along with related industries, Indonesia is well-positioned to develop its electric automotive industry.
According to the announcement, the new electric vehicle battery plant can produce up to 10 gigawatt-hours (GWh) of batteries annually, enough to power 150,000 electric vehicles, with plans to expand to 20 GWh in the future. The first model to be equipped with batteries produced at this plant is the Kona Electric.
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According to AFP, the plant is part of a $9.8 billion electric vehicle battery production agreement signed between Indonesia and LG in 2020.
Thai Son (Tuoitrethudo)
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