S. Korea's Hyundai, LG begin building EV battery plant in Indonesia

Economy

South Korea's Hyundai Motor Group and LG Energy Solution Ltd. on Wednesday began building a $1.1 billion lithium ion battery cell plant for electric vehicles in Indonesia, which Indonesian President Joko Widodo said would be the first in Southeast Asia. Breaking ground for the construction of PT HKML Battery Indonesia plant, scheduled to commence production in the first half of 2024, Widodo called it one of his government's "major strategies for immediately getting out of the trap as a raw material exporting country." "Indonesia has the biggest nickel reserves in the world," the president said...

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