LG, Hyundai to unveil Indonesia joint venture plan, next week
Posted : 2021-05-25 16:40 By Kim Bo-eun
LG s battery manufacturing unit and Hyundai Motor will unveil a joint venture in Indonesia in early June, sources said Tuesday.
The two companies have been in discussion with Indonesian authorities over the investment for years, and Indonesian Investment Minister Bahlil Lahadalia appears to have visited Seoul for final arrangements before the venture plan is announced.
The minister met with LG Energy Solution CEO Kim Jong-hyun and Hyundai Motor Group Chairman Chung Euisun on Monday, the first day of his four-day visit to Seoul.
Under the joint venture, LG is set to supply its batteries for Hyundai s EV models to be produced in Indonesia. Hyundai is constructing a factory in Bekasi, 20 kilometers east of Jakarta, capable of producing up to 250,000 vehicles on an annual basis. The plant is nearing completion and is set to launch operations within the year. Hyundai is seeking o
Indonesia says building US$1.2 billion battery plant with South Korea s LG Toggle share menu
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24 May 2021 07:05PM (Updated:
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JAKARTA: State-owned Indonesia Battery Corporation (IBC) and South Korea s LG will build a new battery plant worth US$1.2 billion with the capacity of 10 gigawatt hours (GWh), Indonesia s investment minister said on Monday.
The plant, part of a bigger US$9.8 billion electric vehicle deal between LG and Indonesia signed last year, will be built in the city of Bekasi, on the eastern border of the capital Jakarta.
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Investment Minister Bahlil Lahadalia in a statement did not specify a timeframe but said the factory would be built in the near future .
JAKARTA, May 24 (Reuters): State-owned Indonesia Battery Corporation (IBC) and South Korea s LG will build a new battery plant worth US$1.2 billion with the capacity of 10 gigawatt hours (GWh), Indonesia s investment minister said on Monday.
The plant, part of a bigger US$9.8 billion electric vehicle deal between LG and Indonesia signed last year, will be built in the city of Bekasi, on the eastern border of the capital Jakarta.
Investment Minister Bahlil Lahadalia in a statement did not specify a timeframe but said the factory would be built in the near future . The first phase of construction will have the production capacity of 10 GWh, which will later be used for EVs from Hyundai, he added.
Indonesia’s state-owned Indonesia Battery Corporation and South Korean conglomerate LG Group joined forces to build a new electric vehicle battery plant for $1.2 billion, Indonesia s investment minister said on May 24, according to Reuters. The plant, which is part of a bigger $9.8-billion electric vehicle investment deal between LG and Indonesia, will be built in Bekasi city east of the capital Jakarta and have an annual the capacity of gigawatt hours. Commencement of the project would be “in the near future” and the first batteries would be used for electric vehicles from Hyundai, investment minister Bahlil Lahadalia said. LG has.
Indonesia’s state-owned Indonesia Battery Corporation and South Korean conglomerate LG Group joined forces to build a new electric vehicle battery plant for $1.2 billion, Indonesia’s investment minister said on May 24, according to
(LGCLF), POSCO (NYSE:PKX) - Tesla Battery Supplier LG Collaborates with Indonesia Over $1 2B Battery Plant: Reuters benzinga.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from benzinga.com Daily Mail and Mail on Sunday newspapers.