MIND ID Confirms LG Leaves EV Battery Consortium, KESDM Says This

Electric battery illustration (Photo: Unsplash)

Holding BUMN Mining MIND ID revealed that South Korean technology company LG Energy SOLUTION has withdrawn from the integrated electric vehicle battery ecosystem (EV) giant project in Indonesia.

Director of Portfolio and Business Development MIND ID, Dilo Seno Widagdo said, LG withdrew from the Titan Project joint venture (JV) consortium.

"The EV battery ecosystem with the same LG was canceled," said Dilo, quoted on Monday, April 21.

However, Dilo did not explain further the reason why LG left the electric vehicle battery project. However, he ensured that Indonesia would offer this strategic project to the United States. This is in line with negotiations over the imposition of an import rate of 32 percent by Indonesia.

"One of our bargaining positions, we will also offer Americans. Because we have a trade transaction deficit with the US," explained Dilo.

Responding to LG's departure from this project, the Director General of Mineral and Coal (Minerba) of the Ministry of Energy and Mineral Resources, Tri Winarno, said that from the start, the company from the country of ginseng was considered not serious in investing in Indonesia. From the beginning, it was reported that they were working with IBS, he continued, LG had never conducted a groundbreaking.

"He really intends not to invest here? If for example he doesn't intend, that's it. Yes, there was no significant intention from the start," Tri told the media crew at the Ministry of Energy and Mineral Resources Building, Monday, April 21.

Although LG left, Tri confirmed the timeline for the implementation of nickel ore liquefiability in Indonesia. In fact, later there will be a replacement company that is interested in entering to replace LG

"No, no (resign). Not if that's the case. There will definitely be (replacement of LG) later," said Tri.