Regarding The Construction Of An Electric Vehicle Battery Factory By LG, IBC: It's Been Launched

Illustration (Photo: Doc. Antara)

JAKARTA - President Director of Indonesia Battery Corporation (IBC) Toto Nugroho provided further information on investment in the construction of a battery factory for electric vehicles by LG Energy Solution Ltd (LGES) in Indonesia.

Toto revealed that his party was still waiting for further information from the government.

According to him, the decision will be issued this week.

"So basically now from the aspect of the ministry is carrying out the final structure of the LG, so that's what has been announced, and this week there should be more news," Toto told the media quoted on Tuesday, May 13.

According to Toto, LG will continue this cooperation commitment because the person concerned has invested downstream together with Hyundai to produce battery cells.

"Because the important thing is that LG has invested in the downstream, right. It's just a matter of what in the future we are waiting for confirmation from them," Toto continued.

Previously, the Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia dismissed the news of the resignation of LG Energy Solution (LG) from the electric vehicle (EV) battery development project project.

Just so you know, LG reportedly left the downstream project investment for precursors, cathodes, battery cells, and battery recycling. This project is part of a joint joint venture with IBC (IBC).

"I want to say it's not true, keep on the track, keep going," Bahlil said in a virtual press conference, Thursday, February 16.

Bahlil said the Ministry of Investment had also held a meeting with LG some time ago.

At the meeting, LG emphasized that he would continue to invest in the country.

The process about LG has not changed at all, nothing, but the way that has changed is a member of the consortium. If the members of the consortium are their internal affairs. Indeed, they reported there was a change in the consortium," he explained.