Airlangga And Bahlil Called By Prabowo To The Palace, Discuss Electric Vehicle Battery Project

JAKARTA - President Prabowo Subianto summoned a number of ministers, starting from the Coordinating Minister for the Economy Airlangga Hartarto to the Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia, to the Indonesian Presidential Palace, Jakarta, Thursday, May 22 afternoon.

Bahlil, upon arrival at the Presidential Palace complex, revealed that he would report to the President about the continuation of the electric vehicle (EV) or Indonesia Grand Package battery project.

"Today we will average (limited meeting) in the discussion of the continuation of the EV (electric vehicle) for car batteries related to LG," said Bahlil, confiscated by Antara.

Bahlil said that the Government had broken a partnership with LG regarding the electric vehicle battery project.

LG's position, he said, had been replaced by a Chinese company Huayou.

"From the start, we have cut ties (with LG) and will cooperate with Huayou. So, this is a new partner and it has been completed. We just need to provide a report to the President," said Bahlil.

The Indonesia Grand Package project targets the construction of electric vehicle batteries with a capacity of 30 GWh. On its way, LG has built the first 10 GWh and now there are 20 GWh left which Huayou will continue.

Investment from the project has been realized in the amount of 1.2 billion US dollars or Rp. 20.2 trillion, and later Huayou will fill most of the remaining investments that reach 8.6 billion US dollars or Rp. 145.2 trillion.

"The total investment is 9.8 billion US dollars. The first stage of 10 gigawatts with LG has been carried out around 1.2 billion US dollars. The rest of around 8 billion US dollars will be taken from LG to Huayou. This will be completed today," said Bahlil.

Bahlil also said that the letter of termination of the partnership with LG related to this project had been signed.

"In principle, we have sent a letter of termination with LG. Coincidentally, I signed the letter," he continued.

Meanwhile, Airlangga said that a limited meeting with President Prabowo would discuss downstreaming.

"Yes, it looks like downstreaming," said Airlangga.

Apart from Bahlil and Airlangga, the Minister of SOEs Erick Thohir and Deputy Minister of Industry Faisol Riza were also present.