South Korean conglomerate LG plans to invest an additional $1.7 billion in its battery cell joint venture in Indonesia, despite recently withdrawing from a larger battery supply chain project in the country. The joint venture, HLI Green Power, launched its factory in Karawang, West Java in 2024, involving LG Energy Solution, Hyundai, and Indonesia Battery Corporation (IBC). With the new commitment, LG’s total investment in the battery cell project will reach $2.8 billion, aiming to double the plant’s production capacity from 10 GWh to 20 GWh. Investment Minister of Indonesia, Rosan Roeslani, confirmed ongoing talks with LG and expressed optimism about the swift realization of the second-phase investment. The Karawang plant, inaugurated by former President Joko Widodo, is Southeast Asia’s first and largest EV battery cell facility. In Q1 2025, Indonesia secured $683.3 million in investments from South Korea, ranking it as the country’s seventh-largest foreign investor.Source: https://jakartaglobe.id/business/lg-to-reportedly-invest-another-17-billion-in-indonesian-battery-cell-plant (ICE GIACARTA)

Fonte notizia: Jakarta Globe, 29 April 2025