Multymrter.com – Indonesia is showing its seriousness in supporting the electric vehicle program and, through Indonesia Battery Corporation (IBC), is working to make Indonesia the king of electric vehicle batteries. This is due to the existence of several project portfolios for the development of electric vehicle battery ecosystems and integrated battery energy storage systems.
According to news that has been circulating, IBC is currently focusing on at least five projects that the company is working on. First, the Dragon project, which is an end-to-end ev battery value chain development project with Ningbo Contemporary Brunp Lygend Co. Limited (CBL), a subsidiary of CATL.
Indonesia Battery Corporation (IBC) director Toto Nugroho said that after IBC and CBL signed a conditional share purchase agreement (CSPA) on Jan. 16, CBL is expected to start disbursing its investment this year.
The investment value of the Dragon project itself, from upstream to downstream, amounts to US$5.6 billion, that is their commitment.
The second project is the Titan project, which is an end-to-end EV battery value chain development project with the LGES consortium, which will probably change the composition of the LGES consortium. The LGES consortium will come to Indonesia in late 2023 or early May 2023 to convey confirmation from the LGES consortium members on their commitment to this project.
The third project, namely the BESS project, which is a pilot project to develop a battery energy storage system with PT PLN (State Electricity Company) and MIND ID. For now, the project itself is in the feasibility study stage related to the implementation of energy storage in the operational areas of PLN and MIND ID.
Fourth, namely the Volt project, where in this project IBC made a corporate action by acquiring the electric motor manufacturer Gesits. Currently, IBC is enhancing Gesits’ capabilities to become a champion of the domestic electric motorcycle industry after completing the acquisition by IBC as a majority shareholder.
Fifth, the latest is the Omega project. In this project, Indonesia is expected to have the largest electric vehicle battery factory in Southeast Asia. The factory itself is planned to be built in the Karawang area, West Java.
The Omega project is the result of a collaboration with a South Korean consortium, LG Energy Solution and Hyundai Motor Group. The factory is scheduled to start its first production in 2024.
For this, as a state-owned enterprise, state-owned enterprises have the opportunity to negotiate to enter there in minority, it is not very large, almost 5% and currently of the Omega project itself, 80% of the construction is in Karawang and ready. to operate in 2024.
The construction of the electric vehicle battery factory in Karawang has an investment value of US$1.1 billion. Meanwhile, battery production at the factory aims to produce 10 gigawatt hours (GWh) in 2024.
The construction progress of the Omega project in Karawang has reached almost 70-80 percent of the investment value of US$ 1100 million and this is the beginning of Indonesia becoming an electric vehicle production center where it is integrated with the Hyundai car factory. It also produces not only for Indonesia but also for export.
On the other hand, batteries for electric vehicles in the world are expected to reach 5300 GWh in 2035 and are dominated by the need for four-wheel electric vehicles. Meanwhile, the demand for EV batteries mainly comes from 3 areas, namely the United States, Europe and Asia.
Indonesia aims to become a hub for EV battery production in the Southeast Asian region, as Indonesia is backed by the availability of raw materials required to manufacture EV batteries.***
