April 19

CATL to Partner With Indonesian State Companies on $6 Billion Electric Vehicle Battery Project

By P.R. Venkat

Contemporary Amperex Technology Co. and two state-owned companies in Indonesia plan to jointly develop a $6 billion electric-vehicle battery integration project, capitalizing on the bigger shift by the auto industry toward battery-powered vehicles.

A unit of Shenzhen-listed CATL and Indonesia’s PT Aneka Tambang and PT Industri Baterai Indonesia signed an agreement to develop the project in Indonesia’s North Maluku province and other parts of the country, the companies said in a joint statement Friday.

The project will focus on nickel mining and processing, battery materials, battery manufacturing, as well as battery recycling, the statement said.

Photo courtesy of CityofStPete.

Source: Market Watch (link opens in a new window)

Energy, Environment
electric vehicles, manufacturing, recycling