Investment in the Electric Vehicle Battery Industry in Batang Translucent IDR 142 Trillion – The Ministry of Investment/Investment Coordinating Board (BKPM) reported that the total investment project value for the integrated electric vehicle battery industry in the Batang Integrated Industrial Area (KIT), Central Java reached US$9.8 billion or the equivalent of Rp.142 trillion.

“Today we have carried out the second phase, where (total) investment amounted to US$9.8 billion,” said Minister of Investment/Head of BKPM Bahlil Lahadalia at the Implementation ceremony for the Second Phase of the Integrated Electric Battery Industry in Batang Regency, Wednesday, June 8, 2022.

If the development of the integrated electric vehicle battery ecosystem has been fully implemented, the downstream investment made by LG will provide an added value of US$5.18 billion and will absorb up to 20,000 Indonesian workers specifically for electric vehicle battery factories.

The investment project for the integrated electric battery industry started with a nickel mining and smelter located in Halmahera, North Maluku.

Also Read: 3 Advantages of Condotel Investment for Investors

Also Read: These are the Differences between Condos and Apartments in terms of Investment

Up to the refinery industry, precursor and cathode industry, as well as the expansion of the battery cell industry which will be built at KIT Batang, Central Java, to the electric battery recycling industry.

LG representatives told President Joko Widodo that the nickel mine located in Halmahera is planned to produce 16 million metric tons in one year with a total investment value of approximately US$300 million.

The nickel ore will later be brought to Batang for the refining process. For the investment value for industrial factory construction, the total is US$3.5 billion,” said the LG representative.

The implementation of the first phase of the integrated electric battery industry project was previously realized through the groundbreaking of the construction of an electric vehicle battery cell factory in Karawang, West Java, last September 2021. ()