Chinese Firm Huayou Replaces LG in Indonesia’s EV Investment Project

Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, stated that Chinese company Huayou will step in to replace LG Energy Solution, which has withdrawn from its electric vehicle (EV) investment project in the country.

Huayou is set to invest US$9.8 billion (around Rp165.4 trillion) in the development of an industrial facility that will cover the entire EV battery supply chain, from mining to battery production.

Who Owns Huayou?

According to its official Indonesian website, Huayou Indonesia is a subsidiary of Zhejiang Huayou Cobalt, a Chinese corporation specializing in nickel processing since 2002.

In Indonesia, Huayou processes nickel into several key outputs, especially electric vehicle battery materials.

Huayou Indonesia affirms its commitment to developing eco-friendly nickel resources, building green industrial parks, and offering reliable raw material support for the new energy vehicle battery industry.

The company’s headquarters is in Jakarta, and it employs about 13,000 people, many of whom are local Indonesian workers.

Currently, Huayou is involved in six major projects across Indonesia, including:

• The Indonesia Pomalaa Industrial Park (IPIP) in Southeast Sulawesi, which houses HPAL, RKEF, refining, precursor, cathode materials, ternary lithium batteries, recycling, and more.

• The Huayue HPAL project in Indonesia Morowali Industrial Park (IMIP), Central Sulawesi.

• Huafei HPAL and Huake RKEF in Indonesia Weda Bay Industrial Park, North Maluku.

• KNI HPAL project in Pomalaa, Southeast Sulawesi.

• The Sorowako Project in East Luwu Regency, South Sulawesi.