Antam, Hongkong CBL sign joint agreement to accelerate Indonesia’s electric vehicle ecosystem

Jakarta – PT Aneka Tambang Tbk (Antam) and Hongkong CBL Limited signed a cooperation agreement to accelerate the Battery-Based Electric Motor Vehicle Ecosystem (KBLBB) development in Indonesia. This step aligns with Presidential Regulation Number 55 of 2019 concerning the Acceleration of the Battery Electric Vehicle Program for Road Transportation.

The Indonesian government prioritises using Battery Electric Vehicles to reduce greenhouse gas emissions and achieve the Net Zero Emission (NZE) target by 2060. To support this program, the government invites foreign investors to participate in building an electric vehicle ecosystem in Indonesia.

Coordinating Minister for Maritime Affairs and Investment, Luhut Binsar Pandjaitan, expressed his appreciation for the investment cooperation between Antam and Hongkong CBL Limited.

“Congratulations to Antam, CBL, and IBC for the investment cooperation in Indonesia’s lithium battery ecosystem supply chain. This is the first of its kind in the world, covering stages from nickel mining to giga factory battery cells and packs and recycling. This answers the question of downstream, where there is still much that can be done here,” he said in a written statement at the EV Battery Ecosystem Project Divestment Signing ceremony.

Pandjaitan emphasised the importance of efficiency and speed of project execution, given the increasingly fierce global competition. In addition, he said that project execution must comply with high environmental and labour standards. “We must be transparent with digitalisation, and the execution of this project must be a standard example for similar projects in the future,” he added.

Minister of Investment/Head of BKPM Bahlil Lahadalia also highlighted the implementation of this project, emphasising the need for detailed attention to environmental impacts and mitigation of potential adverse risks. Furthermore, Bahlil mentioned that this investment has significant value, not a small investment.

“This investment is not to build stainless steel, but the ecosystem of car batteries, which is at Rp 80 trillion- Rp 90 trillion. This is not a fried bean investment,” he said. (Hartatik)

Banner photo: PT Aneka Tambang Tbk (Antam) and Hong Kong CBL Limited signed a cooperation agreement to accelerate the development of the Battery-Based Electric Motor Vehicle Ecosystem (KBLBB) in Indonesia. (Source: Ministry of Energy and Mineral Resources)

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