Jakarta (VNA) – Indonesian Minister of State-Owned Enterprises Erick Thohir said on October 14 that the world’s two largest electric vehicle (EV) battery producers, Contemporary Amperex Technology Co. Ltd of China and LG Chem Ltd of the Republic of Korea, are considering a plan to build an EV battery plant worth 20 billion USD in Indonesia.

Thohir said the presence of foreign investors in Indonesia would make the country's competitive edge stronger in support of energy resilience.

Early this month, Chairman of the Mining Industry Indonesia (MIND ID) company Orias Petrus Moedal said State-owned mining companies MIND ID and Aneka Tambang, State services company Perusahan Listrick Negara and national petroleum company Pertamina will jointly establish a new venture called Indonesia Battery Holding to promote domestic EV battery production sector.

Indonesia is known as the biggest producer and exporter of nickel as the main raw material for EV batteries in the world, which could meet 27 percent of the needs of the global market./.