The Indonesian Chamber of Commerce and Industry (Kadin) is looking to partner with Latin American countries, including Argentina, Chile, and Peru, to develop electric vehicle (EV) batteries. These countries possess important mineral resources that are essential for EV battery production. By importing these minerals, Indonesia can increase the supply of raw materials for EV production and save its own critical mineral reserves.
Sinta W Kamdani, Kadin’s Deputy Coordinator for Maritime, Investment, and Foreign Affairs, emphasized the potential benefits of collaboration with Latin American countries. She highlighted that while these countries may have the resources, they lack the necessary factories for EV battery production. This presents an opportunity for Indonesia to strengthen its position as a global EV producer.
The Indonesia-Latin America and the Caribbean (INA-LAC) business forum, scheduled for October 16-17, 2023 in Jakarta, aims to facilitate business partnerships between Indonesia and the Latin American and Caribbean markets. The forum is crucial for Indonesia’s interest in securing mineral resources for the development of its EV ecosystem.
Umar Hadi, director general for the Americas and Europe at the Indonesian Ministry of Foreign Affairs, emphasized the importance of cooperation with the Latin American and Caribbean regions to ensure a stable supply chain. These regions possess abundant resources such as lithium and copper, which are crucial for EV battery production.
In line with its goals, Indonesia has already established the Indonesia Battery Corporation (IBC) for the industrial development and production of EV batteries. The IBC has partnered with PT Ningbo Contemporary Brunp Lygend Co. Ltd. (CBL) and LG Energy Solution to develop integrated EV battery solutions.
Overall, Indonesia’s collaboration with Latin American countries in the EV battery sector holds significant potential for both parties. By leveraging the mineral resources of Latin American countries, Indonesia can strengthen its position as a global EV producer while ensuring a stable supply chain for its EV ecosystem.