알파경제 - China′s CATL to Build Battery Cell Plant in Indonesia with $1.6 Billion Joint Investment

Photo=CATL

[Alpha Biz= Reporter Kim Jisun] China's electric vehicle battery manufacturer CATL is partnering with Indonesia's state-owned battery investment company IBC to establish a battery cell plant in Indonesia.

According to industry sources on the 20th, CATL's subsidiary, CBL International Development, and IBC formed a joint venture on the 18th to build a battery cell manufacturing plant. The joint venture plans to invest a total of $1.18 billion (approximately 1.6 trillion won) to construct a battery cell plant with an annual capacity of 15GWh.

Late last year, CATL also invested $467.18 million (around 640 billion won) through its Hong Kong subsidiary, HKCBL, to acquire a stake in Aneka Tambang (Antam), Indonesia's largest state-owned nickel producer. At that time, CATL committed to building a refinery and processing plant for nickel mined in Indonesia, along with a lithium-ion battery plant.

This move is seen as part of CATL's strategy to establish an electric vehicle battery value chain in Indonesia, positioning itself to capture the growing Southeast Asian market. Indonesia's potential to become a hub for the electric vehicle industry is a key factor behind this effort.

Additionally, Indonesia holds the world’s largest nickel reserves and production, ensuring a stable supply of this critical mineral for EV batteries. With abundant cobalt and manganese resources as well, CATL aims to develop Indonesia into a production hub for electric vehicles.

알파경제 Kim Jisun (stockmk2020@alphabiz.co.kr)