Key Takeaways from SMM Indonesia Seminar: Li-ion Battery & Energy Storage

On September 16, the SMM Indonesia Seminar: Li-ion Battery & Energy Storage, hosted by SMM, concluded successfully at the YUAN GARDEN Hotel in Jakarta, Indonesia!

This seminar brought together numerous experts and heavyweight guests from around the world, attracting over 200 attendees. The conference focused on hot topics in the lithium battery industry chain in Indonesia, Southeast Asia, and globally. Additionally, SMM meticulously organized two panels, centered around "Battery Materials Panel: Regional Collaboration & Path Development of LiB Battery Materials in SEA: Indonesian's Path to LiB Main Material Supply Chain" and "Global Energy Storage Industry Landscape: Opportunities, Challenges, and Strategic Maneuvers in the Indonesian Markets." These panels sparked intense intellectual exchanges! The on-site content was packed with valuable insights, and the participants left with great gains~

SMM Senior Battery Materials Analyst Lesley Yang stated that Indonesia not only possesses the world's richest nickel resources—with an annual production exceeding 1 million mt, primarily laterite nickel ore, which is a key raw material for producing ternary cathode precursors—but is also gradually transitioning from a resource supplier to a strategic hub in the global battery and new energy vehicle ecosystem. According to public data, enterprises such as CATL, BTR, Huayou Cobalt, Gotion High-tech, Lopal, BYD, and LG Energy Solution have already established a presence there. SMM forecasts that by the end of 2025, Indonesia's annual ternary cathode precursor capacity is expected to reach 80,000 mt, further increasing to around 115,000 mt by 2028. Meanwhile, the capacity growth for LFP cathode material is even more significant, projected to surge from 120,000 mt in 2025 to 260,000 mt in 2030, with a compound annual growth rate as high as 17%.

Katherina Dong, New Energy Business Director at SMM, indicated that SMM expects the global energy storage market to enter a phase of significant growth from Q3 2025 to the first two quarters of 2026, primarily driven by regional policy incentives and challenges related to renewable energy grid connection. The growth rate in Q2 2026 is anticipated to be the highest among these four quarters. In China and the EU, energy storage market growth is mainly policy-driven; in the US, tariffs and cost issues are impacting the market. China dominates global energy storage deployment due to strong policy support; the EU maintains steady growth momentum in its energy storage market due to power grid balancing needs and renewable energy expansion; the US energy storage market continues to face challenges in the short term, with tariff policies playing a key role in suppressing demand, but accelerated growth may occur before 2026; energy storage demand in the Asia-Pacific and other regions is entering a growth phase. Q2 2026 is expected to be the peak growth period for the global energy storage market.

Opening Address

Speaker:

Septian Hario Seto, Member of National Economic Council Republic of Indonesia

Signing Ceremony

SMM × PERTAMISI Official Partnership MOU Signing Ceremony

Dr. Raden Sukhyar, PERTAMISI Chairman (left) x Adam Fan, SMM Chairman (right)

Keynote Speech:Battery Materials: Indonesia's pCAM/CAM/LFP Capacity Layout and Forecast for the Next 3-4 Years

Guest Speaker: Lesley Yang, SMM Senior Battery Materials Analyst

Global New Energy Vehicle Market Review and Outlook

The NEV market has experienced explosive growth over the past six years, with global sales surging from approximately 2 million units in 2018 to nearly 17 million units in 2024, an increase of over sevenfold. This growth has been primarily policy-driven: Europe has set emission reduction targets for 2030 and plans to ban the sale of internal combustion engine vehicles by 2035, accelerating automakers' transition; China, guided by its "dual carbon" goals, has effectively boosted market demand through the "dual credit" policy, purchase tax reduction and exemption, and trade-in subsidies. This period can be regarded as a typical "policy-driven expansion phase."

Currently, NEV penetration in China has exceeded 50%. As subsidies gradually phase out, market competition is shifting toward product strength, brand, and innovation. In emerging markets such as India, Southeast Asia, and Latin America, where penetration remains below 10%, subsidies and government incentives continue to be the primary drivers. Global NEV sales are expected to exceed 31 million units by 2030, though the growth rate is projected to slow down gradually. In terms of product structure, BEV models will continue to dominate the market, but plug-in hybrid models are performing well in the short term in China and Europe. In emerging markets, affordable small EVs priced below $15,000 are expected to be key to widespread adoption.

The ESS market is also experiencing rapid growth. SMM expects global ESS demand to increase from 312 GWh in 2024 to over 1,000 GWh by 2030. China remains the largest growth engine, accounting for over 40% of the market share. With the advancement of power market reforms, ESS can achieve profitability through ancillary services and the spot market. Coupled with the increasing proportion of renewable energy and continuously declining costs, the economic viability of ESS projects has significantly improved, gradually reducing reliance on policy support.

Battery Materials Panel:

Regional Collaboration & Path Development of LiB Battery Materials in SEA: Indonesian's Path to LiB Main Material Supply Chain

Moderator: Lesley Yang, Senior Battery Materials Analyst at SMM

Panelists:

Stephen Wilmot, Chairman and Founder of Pure Battery Technologies

Vinícius Mendes Ferreira, Executive Advisor for Nickel Downstreaming at PT Vale Indonesia

Florence Bostyn, Director of Metals & Mining Finance at APAC ING Banking

Joel CY Chang, CEO of Charged Asia

The panelists discussed topics including the technology lock-in effect of high-nickel ternary (NCM) and LFP: resource curse or strategic opportunity, anode material localization: how enterprises can collaborate with Indonesia's nickel resources to break through carbon barriers, battery capacity expansion in Southeast Asia: collaborative optimization or zero-sum game, and breaking cross-border trade barriers: carbon border mechanisms, sustainability standards, and mineral traceability systems.

Keynote Speech:

ESS: Battery Cell Technology Iteration + Global Macro Overview

Guest Speaker:

Katherina Dong, New Energy Business Director at SMM

ESS Battery System Market Dynamics: A Global Perspective

SMM expects the global ESS market to enter a phase of significant growth from Q3 2025 to the first two quarters of 2026, driven primarily by regional policy incentives and challenges related to renewable energy grid integration. The growth rate in Q2 2026 is expected to be the highest among these four quarters. In China and the EU, market growth is mainly policy-driven, while in the US, tariffs and cost issues are impacting the market.

Specifically, in China, supported by strong policies such as 394, 650, and 136, the ESS market is experiencing rapid growth, bringing short-term revenue increases and rising demand for operators. SMM projects China's ESS installations to reach around 50 GWh in Q3 2025 and approximately 47 GWh in Q4 2025.

In the US, ESS demand faces constraints from both economic factors and tariffs. Economically, demand is suppressed due to declining economic benefits and rising costs. Tariff-wise, the current rate remains at 40.9%, with a potential increase to 57.4% in 2026 under Section 301. The "Big and Beautiful" initiative maintains current tariffs in the short term, but adjustments in 2026 and new energy total cost requirements may encourage early investment, partially offsetting the decline in demand.

The strong growth in the EU ESS market stems from high levels of renewable energy generation, grid instability driving demand for ESS solutions, and policy subsidies across multiple countries accelerating new energy deployment. SMM estimates ESS installations of around 12 GWh in Q3 2025 and approximately 10 GWh in Q4 2025.

As for the Asia-Pacific and other regions, although ESS demand in these areas is still in its early stages, it is expected to continue rising. In Q2 2026, with increasing renewable energy penetration and early policy support, it will become the period of strongest growth.

Overall, China dominates global ESS deployment with strong policy support; the EU maintains steady growth momentum driven by power grid balancing needs and renewable energy expansion; the US ESS market still faces short-term challenges, with tariff policies playing a key role in curbing demand, but accelerated growth is likely before 2026; ESS demand in the Asia-Pacific and other regions is entering a growth phase. Q2 2026 is expected to be the peak period for global ESS market growth.

ESS Panel:

Global Energy Storage Industry Landscape: Opportunities, Challenges, and Strategic Maneuvers in the Indonesian Markets

Moderator: Katherina Dong, New Energy Business Director at SMM

Panelists:

Mr. Ricky Cahya Andrian, VP Decarbonization, PT. PLN (Persero) Indonesia

Kevin changbin Qiu, Senior Vice President, HyperStrong International

Ferry Kurniawan, Country Segment Leader, Mining, Mineral & Metals Industries Indonesia, Schneider Electric Indonesia

Guests discussed topics including global ESS market growth points—searching for the next opportunity; the Indonesian ESS market—opportunities and challenges coexisting; deeply exploring market growth potential; how to build reliable and sustainable localized regulations and strategic planning for ESS projects; component procurement strategies—timeline and specification guidelines for EPC procurement.

SMM Data Experience

SMM Indonesia Prices

Growing with the Market, Fulfilling Our Commitment in Indonesia

SMM has released nonferrous metal price information in Indonesia, including nickel, aluminum, and tin. In the future, we will further expand and improve our quotation system in Indonesia, with plans to cover silicon, bauxite, coal, and other midstream and downstream products, providing more diversified reference prices for the market.

Industry Summit Preview:

LI-ION BATTERY CHINA 2025

LI-ION BATTERY CHINA 2025

Conference Highlights

With this, the SMM Indonesia Seminar: Li-ion Battery & Energy Storage has successfully concluded.Thank you for the support from all industry players!

The 2026 Indonesia Critical Minerals Conference is currently in preparation. See you next year!