Korea and Indonesia are working together to meet the demand for electric vehicle (EV) batteries. Indonesia is a major producer of nickel, a key component in EV batteries, and Korea has advanced battery manufacturing technology. They believe that their collaboration will create a powerful synergy.
Korean battery makers are seen as ideal partners for Indonesia due to their technology, production capability, and global market presence. Hyundai Motor Group is also investing in Indonesia to establish a battery cell and pack plant. The Indonesian government expects a significant increase in EVs on the road by 2025 and plans to triple its domestic battery demand by 2035.
In addition to nickel, Indonesia also has rich resources of copper and aluminum, giving them an economic advantage. Indonesian companies, such as the Indonesia Battery Corporation, are working towards building a complete EV battery production ecosystem.
The two nations are aiming to support Indonesia as a production base and hub for battery production and EVs in the ASEAN region. They are also focusing on increasing the adoption of EVs through investments in infrastructure, including expanding the network of EV charging stations.
Overall, the collaboration between Korea and Indonesia in the EV battery industry is expected to result in significant growth and business opportunities.
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