Indonesian Battery Corporation Forms JV with CATL's Subsidiary for $1.18B Battery Plant

Indonesian Battery Corporation (IBC) has jointly established a joint venture with CBL International Development, a subsidiary of Chinese battery manufacturer Contemporary Amperex Technology Co., Ltd. (CATL), to build battery production facilities in Indonesia. This intention of collaboration was first made clear when both parties announced their partnership.

According to IBC, the investment in the factory is expected to reach USD 1.18 billion, with a production capacity of 15 gigawatt-hours (GWh), aiming to meet both domestic and international market demands. Furthermore, the project is scheduled to commence production in 2027.

IBC, a state-owned consortium established to elevate Indonesia's position in the global battery and electric vehicle supply chain, brings together various state-owned enterprises from sectors such as energy, mining, and chemicals. The consortium is dedicated to leveraging Indonesia's abundant nickel resources to position the country as a significant player in the global battery industry.