When will Hyundai energy Indonesia start producing battery packs?

Hyundai Motor Group established a subsidiary, Hyundai Energy Indonesia, producing battery packs to complete the electric vehicle battery production chain. Hyundai Motor targets the plant's construction to start in the first half of 2023, while mass production will run in the second half of 2024.

Who makes Indonesia's first battery cell?

South Korea’s Hyundai Motor Group and LG Energy Solution (LGES) – one of the world’s largest battery makers, which is headquartered in Seoul – have launched Indonesia’s first battery cell production plant with the capacity to produce up to 10 gigawatt hours (GWh) of battery cells every year.

Will Hyundai produce battery cells in Indonesia?

Hyundai Motor management said the plant would produce battery packs and systems optimized for battery electric vehicle (BEV) models. The battery cells will be produced locally and then supplied to BEV models produced in Indonesia.

Why is Indonesia launching its first EV battery plant?

The launch of the country’s first battery plant on Wednesday is part of Indonesia ’s push to move up the global EV supply chain. Indonesia has the world’s largest reserves of nickel, a crucial component in EV batteries and steelmaking.

Will Indonesia become a hub for electric vehicle manufacturing?

Hyundai Motor Group and LG Energy Solution opened a $1.1 billion battery cell plant in Indonesia, a first for the country that’s pushing to become a hub for electric vehicle manufacturing. The factory in West Java province, announced in 2021, began operating on Wednesday, according to a live stream by Indonesia’s Presidential Secretariat office.

Why should you build an electric vehicle battery cell factory in Indonesia?

Building an electric vehicle battery cell factory in Indonesia means that the costs of the components can be reduced up to 30-40%. This is because Indonesia is rich in natural resources needed to manufacture these electric vehicle batteries.