DIGIVESTASI - State-Owned Enterprises Minister Erick Thohir accompanied President Joko Widodo (Jokowi) at the inauguration of PT Hyundai LG Indonesia (HLI) Green Power's battery cell factory in Karawang, West Java. The event was also attended by several of Jokowi's cabinet ministers, including Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan and Minister of Industry Agus Gumiwang Kartasasmita.

"Accompanying President Jokowi along with Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Investment Minister/Head of BKPM Bahlil Lahadalia, and Industry Minister Agus Gumiwang to inaugurate the PT Hyundai LG Indonesia (HLI) Green Power battery cell factory in Karawang, West Java," Erick stated on his Instagram account @erickthohir, Wednesday (July 3, 2024).

Erick noted that the Karawang factory is the largest in Southeast Asia and will produce batteries for Hyundai electric vehicles, including the Kona Electric.

"HLI is the largest factory in Southeast Asia mass-producing batteries for electric vehicles," he explained.

He also emphasized the commitment of state-owned enterprises to support the electric vehicle ecosystem in Indonesia from upstream to downstream, expressing confidence that Indonesia will become a major player in the global electric vehicle industry.

"We at SOEs are committed to supporting the electric vehicle ecosystem from nickel mining, smelter construction, precursor manufacturing, cathodes, to lithium-ion batteries. God willing, Indonesia will become a major player in the global electric vehicle industry," he asserted.

The Karawang facility has a production capacity of up to 10 GWh, with an investment ranging from US$1.2 billion to US$1.5 billion, approximately IDR 19.5 trillion to IDR 24.4 trillion (exchange rate IDR 16,300). Overall, the electric vehicle ecosystem from upstream to downstream built by the two companies involves an investment of US$12 billion or IDR 195.6 trillion.

"Today marks a new chapter, as we witness the inauguration of an integrated car battery factory with a total investment of US$9.8 billion, not including Hyundai's investment in cars. Accumulated, the total investment reaches US$11 billion to US$12 billion. This is the largest investment in a single ecosystem in Indonesia, particularly for car batteries to cars," Bahlil explained.