LBM Constructs US$290 Mln Lithium Battery Raw Material Plant

By Editorial Team 18/07/2023
battery of an electric vehicle
Summary

PT LBM Energi Baru Indonesia is constructing a lithium iron phosphate (LFP) cathode material plant in Kendal Special Economic Zone (SEZ), Central Java.

The groundbreaking ceremony for the 120,000 tons of LFP per year facility took place on Jul 13. This ambitious project comes with a significant investment value of US$290 million.

"The construction of this plant is driven by the growing global demand for lithium-ion batteries as an essential component of electric vehicles. It aligns with the global community's efforts to embrace green energy solutions in response to the pressing challenge of climate change," President Director of LBM Energi Baru Soo Hui Jin said on Monday.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.