South Korea's LG Energy Withdraws $7.7 Billion Battery Supply Chain Project in Indonesia South Korean company LG Energy Solution (LGES) officially announced on April 21 that it will withdraw from the project to establish an EV battery supply chain in Indonesia, which was valued at approximately 11 trillion won (about $7.7 billion). The project, known as the "Indonesia Grand Package," was an agreement reached between LGES and the Indonesian government at the end of 2020. The agreement involved investments in various segments of the EV battery supply chain. In the statement released by LGES, the company cited various factors such as market conditions and investment environment as reasons for its formal withdrawal from the Indonesia Grand Package project. However, LGES expressed its intention to continue exploring different forms of cooperation with the Indonesian government.