JAKARTA - President Director of Indonesia Battery Corporation (IBC) Toto Nugroho revealed, the latest news regarding the continuation of the electric vehicle battery ecosystem project or Titan Project after the government terminated the agreement with a technology company from South Korea, LG Energy Solution.
Just so you know, LG was later replaced by a Chinese company, Zhejiang Huayou Cobalt Co.
This project covers upstream to downstream, from mining, smelters, HPAL, precursors, cathodes, battery cells to battery recycling.
Toto said the project was continuing and was still in its early stages
"Huayou is still in the initial process, later there will be an official maybe because it's between Antam, IBC and Huayou," Toto said in Karawang, quoted Monday, June 30.
He continued, in this project, Antam will play a role as supplier of Nickel-Mangan-Kobalt (NMC) which is the raw material for electric vehicle batteries.
Toto further said that this project is very prospective to continue. Moreover, he later, Antam was able to supply nickel raw materials for this project.
Previously, Minister of Energy and Mineral Resources (ESDM) Bahlil Lahadalia revealed the government's reason behind the resignation of a South Korean company, LG Energy Solution in the Indonesian electric vehicle battery ecosystem (EV) project.
Bahlil said the reason behind LG's resignation was because the government was taking steps to nominate LG's contract on the Titan project.
This is because the company from the country of ginseng has never carried out the contents of the agreement listed in the Memorandum of Understanding (MoU).
"The LG is now out of position. Not out, we are indeed nominated. Why are we nominated? Because the commitment that has been agreed in the MoU has not been implemented," said Bahlil, quoted on Saturday, May 24.
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He added, of the total investment of 9.8 billion US dollars, only 1.2 billion US dollars had been realized.
For this reason, in January 2025 Bahlil admitted that he had issued a contract termination letter with LG and was later replaced by Zhejiang Huayou Cobalt.
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