HYMTF - Indonesia Powers Up: First EV Battery Plant Launched With Hyundai and LG Energy Solution | Benzinga
Hyundai Motor Company (OTC:HYMTF) and LG Energy Solution (LGES) reportedly launched Indonesia’s first battery cell production plant for electric vehicles, with an annual capacity of 10 Gigawatt hours (GWh).
Hyundai Motor and LG Energy Solution plan to invest up to $9.8 billion in Indonesia to develop an EV supply chain, tapping into the country’s rich nickel and copper resources, reported Reuters.
As per the report, the facility is linked with Hyundai’s automotive plant, slated to commence production of 50,000 units annually of the Kona Electric SUV using batteries manufactured in Indonesia.
At the ...