South Korea-based LG Energy Solution (LGES) and Hyundai Motor Group have commenced construction on a USD1.1 billion electric vehicle (EV) battery plant in West Java, Indonesia. The development of the plant is a part of LGES’s USD9.8 billion investment plan in the country. The construction is scheduled to be completed during the first half of 2023 and the production of battery cells is expected to start in the first half of 2024.
The facility is expected to generate 10 GWh of nickel-cobalt-manganese-aluminium (NCMA) lithium-ion battery cells annually and will be able to power more than 150,000 EVs. In addition, the facility will be able to expand its production capacity to 30 GWh to satisfy future demand. This will be the first EV battery facility in Southeast Asia and is an effort to use the region’s nickel resources to develop downstream industries.
