The agreement between the LGES and the Indonesian government was signed in 2020 and included the development of the entire supply chain in the field of battery technologies. However, the company now said that after the analysis of market conditions and investment climate, the decision was made.
Despite the abandonment of the project called Indonesia Grand Package, LGES will continue to cooperate with Indonesia as part of the current joint venture HLI Green. Last year, this alliance with the Hyundai motor group opened the first of the battery production facility for electric vehicles with a capacity of 10 GWh per year. In the future, it is planned to expand production.
Source: Ferra
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