President Joko Widodo of Indonesia on Wednesday inaugurated a new plant constructed by China’s BTR New Material Group and Singapore’s Stellar Investment. The facility will focus on producing anode materials crucial for electric vehicle (EV) batteries.
In the first phase of the project, the companies have invested $478 million, aiming to produce 80,000 metric tons of anode materials per year. According to the Coordinating Ministry of Maritime and Investment Affairs, the start date for production has yet to be announced.
The inauguration marks a significant step for Indonesia in becoming a key player in the global EV supply chain. This strategic collaboration underscores Indonesia’s commitment to advancing its green economy and enhancing its position in the EV industry.