The Indonesian Chamber of Commerce and Industry (Kadin) has identified an opportunity to collaborate with Latin American countries, including Argentina, Chile, and Peru, in the development of electric vehicle (EV) batteries. These countries are rich in important mineral resources that are essential for the production of EV batteries. By importing minerals from these countries, Indonesia can increase the supply of raw materials for EV production.
Sinta W Kamdani, Kadin’s Deputy Coordinator for Maritime, Investment, and Foreign Affairs, highlighted the advantage of this partnership, stating that it will benefit Indonesia as a global EV producer and help preserve its critical mineral reserves. The Indonesian government has been promoting the development of the EV ecosystem and has established the Indonesia Battery Corporation (IBC) for industrial development and production of EV batteries.
The upcoming Indonesia-Latin America and the Caribbean (INA-LAC) business forum, scheduled to take place in Jakarta on October 16-17, 2023, aims to facilitate business cooperation between Indonesia and Latin American and Caribbean markets. Umar Hadi, the director general for the Americas and Europe at the Indonesian Ministry of Foreign Affairs, emphasized the significance of the forum for securing a stable supply chain of mineral resources.
Latin American countries, particularly Argentina, Chile, and Peru, possess abundant mineral resources such as lithium and copper, which are crucial for EV battery production. As these countries lack the necessary factories for battery manufacturing, they can benefit from exporting these minerals to Indonesia.
By establishing partnerships with companies like PT Ningbo Contemporary Brunp Lygend Co. Ltd. (CBL) and LG Energy Solution, the IBC is actively engaged in the integrated development of EV batteries. This collaboration with Latin American countries can further enhance Indonesia’s position as a prominent player in the global EV market.
Sources:
– TEMPO.CO
– Antara