Tesla supplier CATL’s global expansion gathers pace with US$6 billion Indonesia battery project
- CATL and its Indonesian partners Aneka Tambang and Industri Baterai will build an integrated EV battery project in the Southeast Asian nation’s Maluku province
- The project will include nickel mining and processing, EV battery manufacturing and battery recycling
Tesla supplier Contemporary Amperex Technology (CATL) plans to invest nearly US$6 billion in a battery project in Indonesia, taking another step in expanding its global footprint and positioning itself to meet increasing demand for electric vehicles (EV).
CATL, the world’s largest manufacturer of EV batteries, said in a filing to the Shenzhen Stock Exchange on Friday that its subsidiary Ningbo Contemporary Brunp Lygend (CBL) will partner with two Indonesian companies, Aneka Tambang and Industri Baterai Indonesia, to build an integrated EV battery project in the Southeast Asian nation’s northern Maluku province.
The project will include nickel mining and processing, EV battery manufacturing and battery recycling. Construction is expected to start this year and finish by 2026, according to CATL’s announcement.
“The Indonesia project is an important milestone for CATL as we expand our global footprint, and it will become an emblem of the everlasting friendship between China and Indonesia,” Robin Zeng Yuqun, founder and chairman of CATL, said in a separate statement.
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The project is expected to ensure supply of upstream key resources and raw materials for CATL’s battery production, allowing the company to meet growing demand for EVs and EV batteries because of the rapid transition to green transport to fight climate change.
