Chinese Battery Giant Plans to Invest in Plant in Indonesia

Ningde Times New Energy Technology Co Ltd (CATL), a battery and technology company from China, is set to build an electric vehicle battery plant in Indonesia, the president of Wuling Motors revealed on the sidelines of GIIAS 2024 at ICE BSD in Tangerang recently.He said that Wuling EV has a TKDN of up to 40%, which includes battery localization with Gotion. They already have a local assembly plant in Indonesia with a packaging line. So the batteries are locally produced, including those exported to Thailand. But after that they also plan to invest in Indonesia and there are other companies like CATL who want to produce here.

The company will partner with a battery supplier that produces locally, but not with the LG Hyundai plant that was just recently inaugurated in Karawang, West Java with the participation of President Joko. So whether it's investment or localization, they have seriously considered partnering with suppliers that can already produce locally in the progressive TKDN. In fact, Wuling also has plans to come here, as does Ningde Times, although there are no plans for the battery plant in Garawang at the moment. Earlier Indonesia's Coordinating Minister for Maritime Affairs and Investment (Menko Marves) Luhut said that electric vehicle battery maker Ningde Times is committed to investing in Indonesia with funds amounting to $35 billion, or Rp 550.47 trillion, an investment that will be used to establish a lithium battery ecosystem for electric vehicles in the country.