CATL to Cooperate with Indonesian Firms in Building Power Battery Industry Chain Project in Indonesia

SHANGHAI, Apr 18 (SMM) - As the main source of nickel metal in the world, Indonesia is attracting more and more Chinese enterprises to invest and build factories. Recently, another Chinese-funded company announced its business plan in Indonesia. On April 15, the global power battery leader CATL announced that it plans to invest nearly $4 billion in Indonesia to build a power battery industry chain project through its subsidiary. According to the announcement, CBL, a subsidiary of Guangdong Brunp, has signed an agreement with PT Aneka Tambang and PT Industri Baterai Indonesia. Guangdong Brunp is a subsidiary of CATL. The three companies will invest in the construction of power battery industry chain project in the FHT Industrial Park in East Hamahela County, North Maluku, Indonesia and other related industrial parks in Indonesia. The planned construction period is five years.