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Released July 24, 2024 | MANILA
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Researched by Industrial Info Resources (Sugar Land, Texas)--On July 3, Indonesian President Joko Widodo inaugurated an electric vehicle (EV) battery cell plant in Karawang New Industry City, West Jawa. The plant is an investment from Hyundai Motor Company (Seoul, South Korea) and LG Energy Solution (Seoul) through its joint venture PT Hyundai LG Indonesia Green Power. President Jokowi stated "This is Southeast Asia's first and largest EV battery cell plant. I am confident we can win against other countries with this."
This new facility lies on a 330,000-square-meter site and will focus on the large-scale production of EV battery cells for four wheeled vehicles. The first phase of the plant has the capacity to produce 10 gigawatt-hours (GWh) of lithium-ion battery cells per year, enough to power 150,000 EVs. In the future, PT Hyundai LG Indonesia Green Power plans to expand this capacity to 20 GWh. This facility establishes Hyundai as the first automaker in Indonesia to have a fully integrated production ecosystem for electric vehicles, encompassing everything from battery cells to finished vehicles. The battery cells produced will support the mass production of Hyundai's Kona and Ioniq 5 models that are manufactured in a different plant in Indonesia.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report.
This event marks a significant step in Indonesia's ambitious policy to foster the EV Industry, including its target to produce 600,000 EVs by 2030. This is in line to contribute to Indonesia's goal of carbon neutrality by 2060.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
This new facility lies on a 330,000-square-meter site and will focus on the large-scale production of EV battery cells for four wheeled vehicles. The first phase of the plant has the capacity to produce 10 gigawatt-hours (GWh) of lithium-ion battery cells per year, enough to power 150,000 EVs. In the future, PT Hyundai LG Indonesia Green Power plans to expand this capacity to 20 GWh. This facility establishes Hyundai as the first automaker in Indonesia to have a fully integrated production ecosystem for electric vehicles, encompassing everything from battery cells to finished vehicles. The battery cells produced will support the mass production of Hyundai's Kona and Ioniq 5 models that are manufactured in a different plant in Indonesia.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Project Database can learn more by viewing the project report.
This event marks a significant step in Indonesia's ambitious policy to foster the EV Industry, including its target to produce 600,000 EVs by 2030. This is in line to contribute to Indonesia's goal of carbon neutrality by 2060.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking over 200,000 current and future projects worth $17.8 trillion (USD).
