MIND ID and CATL Gear Up for US$12 Bln EV Battery Plant

By Editorial Team 16/08/2023
EV battery industry
Summary

PT Mineral Industri Indonesia (MIND ID) has announced its plan to build an electric vehicle battery factory with a capacity of 15 gigawatts (GW) by 2027. The project, which is valued at US$12 billion, will be carried out in stages.

The electric vehicle battery factory is a joint venture between PT Aneka Tambang (Antam) Tbk, a subsidiary of MIND ID, and Contemporary Amperex Technology (CATL), a Chinese company that is one of the world’s largest battery manufacturers.

MIND ID President Director Hendi Prio Santoso said that the project would also require the development of the electric vehicle market in Indonesia, both for four-wheeled and two-wheeled vehicles.

“But, of course, you have to participate in the development of the electric vehicle market in Indonesia. This means that four-wheeled and two-wheeled electric vehicles must first exist in Indonesia,” Hendi 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.