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Volkswagen plans to produce electric car batteries in Indonesia

Volkswagen plans to produce electric car batteries in Indonesia

The German automaker wants to work with Vale, Ford and Eramet, Chinese metal battery manufacturer Zhejiang Huayou Cobalt and Indonesian companies.

According to Indonesian Investment Minister Bahlil Lahadalia, German automaker Volkswagen wants to set up a production facility for electric vehicle batteries in Indonesia in collaboration with Ford and mining company Vale, among others. The minister explained in a video statement, Monday, that the partnership will consist of joint ventures or the supply of raw materials.

Volkswagen wants to work with Vale, Ford, Chinese battery metallurgist Zhejiang Huayou Cobalt, French mining company Eramet and several Indonesian companies. At Reuters’ request, Volkswagen could not be reached for a statement.

Reduce dependence on China

Indonesia, which has the largest nickel reserves in the world, has already tried to build industries around the metal. Last month, US automaker Ford invested $4.5 billion in a nickel processing plant in Pumala, Southeast Sulawesi. According to Indonesian President Joko Widodo, his country has investment requirements of $1 trillion by 2060. Widodo opened the Hannover Fair with Chancellor Olaf Scholz (Social Democratic Party) on Sunday, with Indonesia being the guest country this year.

In his speech, Schulz emphasized that he wants to expand raw material partnerships with countries like Indonesia in order to reduce dependence on China. In addition, the G7 western industrialized countries will provide government and private investment in the tens of billions in the coming years to accelerate Indonesia’s transition from fossil fuels and the intensification of renewable energies. So Scholz also pushed for a free trade agreement between the EU and Indonesia.

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(APA/Reuters)