LG-Hyundai Electric Car Battery Factory To Open On 3 July 2024
PT Hyundai Motor Manufacturing Indonesia (HMMI) will open its Indonesian electric vehicle (EV) battery cell factory in collaboration with LG Energy on 3 July 2024.
Located in Karawang, West Java, this milestone will strengthen Hyundai’s position as a major player in the battery-based EV industry in the country. “We are joining a venture with LG to create a battery factory. Later they will produce. We will take it from there for the battery components. Hopefully this can increase our TKDN (Domestic Content Level),” Ade Mahendra, Head of External Affairs Department HMMI told KG Media.
However, Ade was still to provide further information on whether the batteries produced from the LG-Hyundai facility would be supplied to other brands or not. Likewise, how much of an increase in Domestic Component Level (TKDN) can be achieved after Hyundai cars or products in Indonesia use local batteries. “Of course, later we will introduce the first EV in Indonesia that uses local batteries,” he said.
The South Korean automotive manufacturer reportedly disbursed funds reaching US$ 1.55 billion (Rp. 21.8 trillion). HMMI has built a manufacturing plant in Cikarang with a car production capacity of 150,000 units annually. The cars it produces are Stargazer, Creta, and Ioniq 5. In addition, Hyundai is also said to be investing US$ 60 million (Rp. 929.22 billion) to build a battery system and battery pack manufacturing with an estimated production of 50,000 pis per year.
Previously, Investment Minister Bahlil Lahadalia said that the Hyundai-LG conglomerate would inaugurate a battery factory with an installed capacity of 10 gigawatt hours (GWh) in the first half of this year. “Now, they have started construction of the second 10 GWh factory (total 20 GWh),” he said.
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