According to Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, talks are on to develop operations for electric vehicles in the Southeast Asian nation with Ford Motor Company and Hyundai Motor Co.
A non-binding memorandum of cooperation to develop a factory in Indonesia to extract nickel compounds was signed in July, according to Ford, nickel miner Vale Indonesia, and China’s Zhejiang Huayou Cobalt.
According to Hartarto, Indonesia is also in conversations about battery and EV investments with Hyundai and the South Korean battery manufacturer LG Energy Solution.
Hartarto informed a crowd that gathered at the Center for Strategic and International Studies, ‘We have the raw materials for EV battery technologies. The U.S. auto sector ‘an support Indonesia’s vast nickel supplies and semiconductor production capabilities,’ he said.