There’s a new mega battery plant being built in Indonesia. And one of the global giant of electric vehicle battery production is behind it.
What’s happening:
- Battery manufacturing company CATL has officially begun construction on a new battery production facility known as the Indonesia Battery Integration Project located in Indonesia
By the numbers:
- The new battery facility is expected to cost roughly $6B USD to construct and bring into full scale operation
Why it matters:
- CATL is one of the world’s largest battery manufacturing companies and just recently made waves with a $4.6B USD IPO financing round on the Hong Kong Stock Exchange
Going deeper:
- The new battery plant is being built through a joint venture partnership between CATL, Indonesia Battery Corporation and PT Aneka Tambang
- The Indonesia Battery Integration project will have full scale battery manufacturing and recycling technology, including producing new batteries for electric vehicles, processing raw materials and smelting nickel
