Indonesia signs MOU with LG to develop $ 9.8 billion EV battery

Reuters reported. Indonesia and LG Group It has signed a memorandum of understanding (MOU) on a $ 9.8 billion electric vehicle battery (EV) investment agreement. An interview with the head of the Indonesian Investment Coordinating Committee said on Wednesday.

The head of the board, Bahlil Lahadalia, said the deal was signed on 18 December that would include investments in the EV supply chain.

Seoul-based LG Group told Reuters that LG Energy Solution, a subsidiary of South Korea’s fourth-largest company, LG. Confirm that the MOU has been agreed upon, but cannot provide details or value of the agreement.

Bahlil said the deal. Making Indonesia the first country in the world Including the electric battery industry since mining To the production of lithium batteries for electric cars ever

We have to congratulate our neighbors for starting a big project in the future, electric cars and world-class technology companies.

source: reuters

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