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3w ago

Indonesia Breaks Ground on US$5.9 Billion EV Battery Megaproject

The venture unites nickel mining in Halmahera with a lithium-ion cell plant in West Java under a joint project with CATL.

A screen shows the logo of the Contemporary Amperex Technology (CATL) during the listing ceremony at the Hong Kong Stock Exchange in Hong Kong, China, May 20, 2025. REUTERS/Tyrone Siu/File Photo
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Overview

  • Construction commenced on June 29 for integrated EV battery facilities under a US$5.9 billion joint venture led by Indonesia Battery Corp, CATL, PT Aneka Tambang.
  • A US$4.7 billion Halmahera complex will focus on nickel mining, smelting and cathode production with operations slated to start in March 2026.
  • A US$1.2 billion lithium-ion plant in West Java aims to begin production by end-2026 with initial 6.9 GWh capacity, expandable to 15 GWh, potentially reaching 40 GWh with solar-storage batteries.
  • Stemming from a 2022 US$6 billion power-battery deal after a 2020 nickel export ban, Indonesia’s strategy targets 600,000 EVs annually by 2030 to boost local processing, expand exports.
  • Environmental groups including Climate Rights International, Greenpeace Indonesia, Jatam have urged the government to strengthen safeguards around the Halmahera development in response to ecosystem damage, threats to local livelihoods.