Indonesia begins $5.9 bn EV battery project despite environment fears

TDT | Jakarta

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Indonesia broke ground Sunday on a $5.9 billion megaproject for EV battery production backed by Chinese giant CATL, despite NGOs raising concerns over a lack of environmental guarantees.

Indonesia is the world’s largest nickel producer and it is trying to capitalise on its vast reserves, with a 2020 export ban spurring a domestic industrial boom of the key metal used in EV batteries and stainless steel.

The EV battery project will include a $4.7 billion investment on the eastern island of Halmahera and a $1.2 billion investment in West Java, energy minister Bahlil Lahadalia said in a speech alongside President Prabowo Subianto.