UPDATED. 2024-07-23 17:34 (화)
LG Energy and Indonesia to collaborate in battery
LG Energy and Indonesia to collaborate in battery
  • Stan Lee
  • 승인 2020.12.21 18:42
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Korean company likely to build factory in country
Image: LG Energy Solution
Image: LG Energy Solution

LG Energy Solution and the Indonesian government has signed a non-binding MOU on Friday.

LG Energy Solution CEO Kim Jong-hyun and Bahlil Lahadalia, chairman of Indonesia Investment Coordinating Board (BKPM), held a singing ceremony for the agreement in Seoul.

A LG spokesperson said specifics of the agreement was yet to be finalized.

The company will likely build a factory in the Southeast Asian country for nickel mining and electric vehicle battery production.

Battery produced will likely be supplied to Hyundai Motor’s factory there. 

Indonesia has a large nickel reserve, which is advantageous to secure materials for cathode. Hyundai is planning to build a car factory that can produce 250,000 vehicles a year.

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