Indonesia to start making lithium batteries for electric vehicles

According to Luhut Pandjaitan, Indonesian Coordinating Maritime Affairs and Investment Minister, lithium batteries making could start till 2023

EV battery plants should be built close to plants that will produce chemicals used in batteries. Luhut Pandjaitan said he intends to motivate shareholders to invest to lithium batteries production as soon as possible. “We are in coordination with GEM and CATL to build lithium battery plains in Indonesia,“ Pandjaitan said. Both GEM and CATL are Chinese companies focusing on lithium battery plants.

Indonesian Minister also stated they search for a suitable location in Western Java island where batteries plants could grow. The chemical plants should be built in the same location. “Everything must be finished by 2023,“ Pandjaitan stated. GEM expects to start trial production of Indonesian chemical plants in in August 2020 already. First phase of testing should be finished before the start of 2021.

author avatar
EditorialTeam
The Trader-Magazine.com EditorialTeam is a collective of certified financial analysts, active traders, and cryptocurrency experts. Our mission is to transform complex market data (forex, equities, indices) into accessible financial education. All content undergoes rigorous, multi-level fact-checking to ensure we deliver only accurate, objective information for your trading and investment decisions.

Top 10 financial instruments for 2022. What will their prospects be in 2023?

The year 2022 has brought countless surprises and obstacles...

Telegram scams: how they work and how to protect yourself

Telegram has become one of the most widely used...

Trump Saved TikTok from a Ban. The App in the U.S. Moves into American Hands

TikTok narrowly avoided a ban in the United States...

Gulf Brokers Ltd. Review

Comparing spreads, commissions, trading platforms, rules and reading dozens...

Climate Change Poses Major Risks to Financial Markets, Regulator Warns

WASHINGTON — A top financial regulator is opening a...

Bitlifi Review: A Simple Bitcoin Wallet or a Risk to Your Savings?

Bitlifi has been appearing more frequently in search results...

Porsche’s global sales fell by 15 percent in the first quarter

Global sales of German luxury sports car manufacturer Porsche...

What Is Fiat Money and Why It Has Value

Fiat money forms the foundation of the modern economy....

Licensed crypto services provider crypto4me simplifies cryptocurrency purchasing

Crypto services provider crypto4me has, shortly after launching its...

Who Is Satoshi Nakamoto? New Evidence Links Bitcoin to a British Cryptographer

The mystery that has fascinated the crypto world for...
spot_img

spot_imgspot_img