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Indonesia’s EV Ambitions: Balancing Domestic Development and Foreign Investment

Can Indonesia Achieve Its Electric Vehicle Ambitions?

“By 2027, we may be one of the top three countries in the world producing EV batteries as well as electric cars.” So said Luhut Binsar Pandjaitan, Indonesia’s coordinating minister for maritime affairs and investment, at a government meeting on January 17.

Luhut’s optimistic declaration followed the recent announcement that Germany’s BASF and French mining conglomerate Eramet will sign a $2.6 billion partnership deal to invest in a facility in Indonesia’s Weda Bay to process nickel for use in electric vehicle (EV) batteries. It also came on the heels of reports that both Chinese automaker BYD Group and U.S. EV maker Tesla are finalizing agreements to invest in domestic EV production facilities in Indonesia. Read full article here