JAKARTA, July 4 (Xinhua) -- Indonesia, home to the world's largest nickel reserves, inaugurated Southeast Asia's first electric vehicle battery manufacturing plant in Karawang, West Java Province, on Wednesday.
Owned by HLI Green Power, the plant is a joint venture between Indonesia Battery Corporation and South Korean automaker Hyundai, alongside battery manufacturer LG Energy Solution.
"This is Southeast Asia's first and largest EV battery cell plant. I am confident we can win against other countries with this," said Indonesian President Joko Widodo during the ceremony.
With abundant reserves of nickel, bauxite, and copper, coupled with integrated smelter and precursor industries, Indonesia aims to dominate the electric vehicle market.
The initial 1 billion U.S. dollars investment will produce 10 GWh of battery cells, enough to power 150,000 electric vehicles, with plans for expansion to 20 GWh in the future.
At the same ceremony, Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan said Indonesia's readiness to become a key player in the global supply chain for electric vehicles with an integrated ecosystem involving international stakeholders.
Luhut added that this effort is aimed at reducing carbon emissions while also improving air quality and the quality of life for people.■