LG Chem To Invest Billions In Indonesia
++
Indonesia and the South Korean battery manufacturer have signed a memorandum of understanding (MOU).
LG Chem's LG Energy Solution is seriously considering a massive $9.8 billion investment related to EV batteries in Indonesia.
According to
Reuters, the company signed a memorandum of understanding (MOU) with Indonesia's government on December 18, but the news was announced just recently.
Indonesia has huge resources of nickel ore, but requires that a company processes at least 70% of it in the country. Because of that, the foreign investor must basically build an integrated manufacturing complex in North Maluku and Central Java.