With a US$9.8-billion investment deal to develop an integrated electric vehicle (EV) battery industry, and the world’s largest nickel reserves, Indonesia is taking another step toward its goal to become a major hub for the EV industry.
The agreement with LG Energy Solution of South Korea, the world’s second-biggest EV battery producer, came at the end of a pandemic-battered 2020 and represents a major vote of confidence in the local EV sector. It also is another milestone on the journey to reduce the country’s greenhouse gas emissions by 29% by 2030.
“Electric vehicles are more environment-friendly. They have lower emissions than fuel-based vehicles, and could reduce air and noise pollution,” State-Owned Enterprise Minister Erick Thohir said during an EV test-drive and an inspection of a charging station in Bali on Jan 2.
The state-owned utility PLN has joined the…
