BASF, Eramet and Volkswagen Eye Indonesian EV Battery Investment

By Editorial Team 17/04/2023
electric vehicle charging station
Summary

President Joko Widodo meet with the leaders of three European companies - BASF, Eramet, and Volkswagen-PowerCo - during the Hannover Messe event in Hannover, Germany, to discuss the companies’ plan to invest in the electric vehicle battery sector. Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia confirmed that the meeting was aimed at discussing the electric vehicle battery investment plan.

German’s BASF will establish an electric vehicle battery development facility in North Maluku, Indonesia, which is expected to be launched by the end of this year. “This joint investment project between BASF and Eramet is worth US$2.6 billion,” Bahlil said n a video posted on the Presidential Secretariat's YouTube channel on Monday.

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