ANN/THE KOREA HERALD – The synergy between Korea’s leading battery technology and Indonesia’s rich mineral resources positions them as perfect collaborators in the growing electric vehicle (EV) market. “If Indonesia, the world’s largest nickel producer, cooperates with the Korean battery industry, the synergy they could create would be tremendous,” Korea Battery Industry Association Executive Vice President Park Tae-sung said. He said this during a collaborative session on EV and e-waste management of the Economic Cooperation Forum.
Park said Korean battery makers would be the best fit for Indonesia because of their competitiveness in technology, production capability, skilled manpower and global market management system.
Korean battery manufacturers supply EV batteries to global automakers in the United States (US), Europe, and Japan.
“Through cooperation with K-Battery, Indonesia will be able to participate in the global battery supply chain and gain access to the US and European markets,” he said.
“All of these Korean battery companies will be great business partners in building the Indonesian battery ecosystem,” he added, describing an integrated battery value chain ranging from materials to production to recycling Korea’s key competitiveness.
Hyundai Motor Group also invested heavily to secure a firmer footing in Indonesia, one of the fastest-growing EV markets, as it is building a battery cell and pack plant there for its locally produced EVs, including the best-seller Ioniq 5.
“Starting in 2024, we will launch a reasonably priced B-segment SUV equipped with batteries produced locally in Indonesia,” said President of Hyundai Motor Asia-Pacific Headquarters Lee Young-tack.
The automaker is also pushing for partnerships with Indonesian firms, starting with a collaboration with Plaza Indonesia, a landmark shopping mall in central Jakarta, to expand the network of EV charging stations for the public, he added.
“In addition to Nickel, copper and aluminium give Indonesia an economic advantage of rich mineral resources endowment,” Chief Executive Officer of Indonesia Battery Corporation Toto Nugroho said.
