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.