Indonesia bets big on electric vehicles but has a long way to go

[Indos]

AlhamduliLLAH

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Antam (ANTM) Finalizes US$ 6 Billion EV Battery Project​

Tuesday, Jan 17, 2023 | 5:00 a.m.
Muawwan Daelami

JAKARTA, investor.id - PT Aneka Tambang (Persero) Tbk (ANTM) or Antam is finalizing an investment agreement to develop the electric vehicle (EV) battery industry with PT Ningbo Contemporary Brunp Lygend Co Ltd (CBL), a subsidiary of CATL, and LG Energy Solution (LGES) worth US$ 6 billion or equivalent to Rp 90 trillion. The project deal is targeted to be signed this year.

Director of Antam Business Development (ANTM) Dolok Robert Silaban explained that the collaboration between Antam, CBL and LGES focuses on the upstream side of the EV battery industry. As of now, the conditional shares purchase agreement (CSPA) of this cooperation will soon be completed.

Because, he said, there are still some conditions in the transaction that must be assessed, especially regarding reserved or nickel reserves whose levels need to be increased. This is what Antam negotiated with CBL and LGES.

Also read: Mitratel (MTEL) Uses Rp 14 T IPO Funds

He added that all parties have agreed to establish cooperation, namely on the upstream side of EV batteries. On the other hand, there is a complement date or long stop date that is constantly being pursued. This is because this investment depends on China, so it needs to get approval from the Overseas Direct Investment (ODI).

"If the investment value of this project as a whole is around US$ 6 billion starting from upstream to downstream. In the midstream Antam is also involved," Dolok replied to Investor Daily in Jakarta, Monday (16/1/2023).

As an illustration of the downstream flow, Dolok detailed, Antam will play a role in mining nickel ore. Then the ore is processed into nickel sulfate which is then produced into batteries both in material form and in the form of PX batteries. After that, there is a recycling process or commonly referred to as battery recycle.

Also read: OneMed (OMED) Aims for Rp 380 Billion Net Profit This Year

"Well, this is what we are completing soon. We will solve all of that after the CSPA is completed," added Dolok.

According to Dolok, the battery industry from year to year continues to grow, as happened in Japan, China, Korea, to Europe or the United States (US). Antam assessed these countries as countries that are quite successful in developing the battery industry.

Separately, Executive Director of the Centre for Energy and Mining Law Studies (Pushep) Bisman Bakhtiar argued that the EV battery industry is the industry of the future. This is because this is related to the energy transition, especially in the transportation sector.

"So, the future of this EV will be a bright industry," Bisman told Investor Daily.

Also read: Consumer Goods Stocks Predicted to Squirm in 2023These are the Drivers of the Indonesian Stock Market

Moreover, according to him, Indonesia has an advantage on the upstream side, namely nickel mineral resources that can be used for raw materials for EV batteries. It's just that, currently, the EV ecosystem has not been ideally built because it is still not optimal downstream and the industry is participating. This part should be of concern to the government to encourage the industry to join in.

At the very least, he projects, the EV battery industry will take 10 years to truly run ideally and sustainably. However, the excitement of the EV battery industry has provided enough positive sentiment for Antam's performance going forward.

"Antam has an upstream to downstream industry. Even though as an upstream player, Antam is not so big," said Bisman.



Editor : Indah Handayani (indah.handayani26@gmail.com)

Source : Investor Daily

Antam (ANTM) Finalisasi Proyek Baterai EV US$ 6 Miliar

PT Aneka Tambang (Persero) Tbk (ANTM) tengah memfinalisasi kesepakatan investasi pengembangkan industri baterai kendaraan listrik

investor.id

 

[Indos]

​

AlhamduliLLAH

BASF Realizes Electric Battery Investment in North Maluku Rp 33 Trillion (2.2 billion USD)​

The story of Tia Dwitiani Komalasari • 46 minutes ago

German company Badische Anilin- und Soda-Fabrik or BASF will realize nickel refining or smelter investment in North Maluku. The nickel refining will be used for the purposes of developing national electric vehicles.

Minister of Investment/Head of the Investment Coordinating Board Bahlil Lahadalia held a direct meeting with BASF Chief Executive Officer Martin Brudermüller on the sidelines of the World Economic Forum (WEF) Annual Meeting 2023 in Davos, Switzerland. In the intersection, Bahlil encouraged an investment plan to refine nickel for the purposes of developing electric vehicles in North Maluku.

"I fully support BASF's investment plan in Indonesia, especially in supporting the development of an electric vehicle battery ecosystem," said Bahlil through a written statement, Tuesday night (17/1).

He said that the investment was in line with the ideals of the government which wants to make Indonesia a world-class electric vehicle player. The refining plant will be established in North Maluku where it is the location of the source of nickel raw materials.

"We at the Ministry of Investment/BKPM will oversee all BASF investment processes from start to finish so that this project can be carried out immediately," said Bahlil.

Plan. BASF will cooperate with Eramet which already has business legality on behalf of PT Eramet Halmahera Nikel (PT EHN). Basf - Eramet's joint investment plan named Sonic Bay Project is located in the Teluk Weda Industrial Area, North Maluku.

This project is a nickel refining plant with High Pressure Acid Leach (HPAL) technology that produces Mixed Hydroxide Precipitates or MHP.


BASF CEO Martin Brudermüller expressed his appreciation for the Indonesian government's success in realizing excellent economic growth performance and even surpassing countries in Europe. He was also grateful for the support provided by the Ministry of Investment so that BASF's investment process was able to run well, especially in terms of licensing arrangements.

Martin confirmed that his deal with Eramet has entered the final stages and will be realized soon. "We want to convey that our agreement with Eramet is at the final stage, it is likely that our decision will be taken in the first semester of 2023," he said.

BASF will realize an investment of approximately €2.4 billion or IDR 44 trillion. This investment is estimated to create 1,000 direct jobs.

Martin said BASF also plans to invest further. The Sonic Bay project is expected to generate an investment value of up to US $ 2.2 – 2.6 billion or Rp 33 trillion and a production capacity of 67 thousand tons of nickel / year and 7.5 thousand tons of cobalt / year. BASF's own follow-up investment plan aims to produce MHP into a precursor to electric batteries.

BASF is a German multinational company and the world's largest chemical producer that currently collaborates with French mining companies in the nickel and cobalt hydrometallurgical refining smelter industry that produces raw material products for electric vehicle batteries.

MSN

 

[Indos]

Indonesian national company, PT Pindad, launches its EV car version. In 2024 the target is to make the local content reach 90 %. Currently it is still in prototype phase.

Their main business are rifle, ammunition, weapon, and military grade vehicle.

Pindad Maung / Morino (example of their military grade vehicle)

 

[Indos]

Indonesia steel and aluminium companies are also supporting EV industries

Krakatau Steel is not the only steel company in Indonesia, but it is the largest one and despite it is SOE but the business is quite competitive and profitable.

Krakatau Steel and Posco ink deal to advance Indonesia’s role in EV industry​

The memorandum of understanding was signed by Investment Minister Bhalil Lahadalla, president director of Krakatau Steel Silmy Karim, and CEO of Posco Kim Hag Dong, and witnessed by President Joko

Jakarta ● Fri, July 29, 2022


PT Krakatau Steel (Persero) Tbk, along with the Investment Ministry, signed a Memorandum of Understanding (MoU) with Posco Steel of South Korean on July 28. The agreement signals the South Korean company’s plan to invest US$3.5 billion.

Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia was present at the signing, along with president director of Krakatau Steel Silmy Karim, and CEO of Posco Kim Hag Dong. It was also witnessed by President Joko “Jokowi” Widodo, State-Owned Enterprises Minister Erick Thohir and Public Works and Housing Minister Basoeki Hadimoeljono.

“We are very pleased with the government's support in realizing the expansion of PT Krakatau Posco, which is a joint venture between Krakatau Steel and Posco. We will continue to actively collaborate in implementing the investment plan as agreed. PT Krakatau Posco will become the largest integrated steel company in Southeast Asia," said Silmy.

Silmy noted that this agreement is expected to increase the production capacity of PT Krakatau Posco to reach 10 million tons per year, in both upstream and downstream products. The plan is in line with the government’s strategy to make Indonesia an essential player in the electric vehicle (EV) industry.

"In addition, the collaboration between Krakatau Steel and Posco is also prepared to support the Nusantara Capital [IKN] project where Posco has long experience in the construction of several cities in Korea," added Silmy.

The commitment was welcomed by the Indonesian government, as Minister Bahlil promised to ensure that the ministry and government agencies would provide all the support necessary to Krakatau Steel and Posco for the issuance of permits for projects and investment incentives in accordance with the prevailing laws and regulations in Indonesia.

“I am very pleased with the commitment from Krakatau Steel and Posco for their investment in Indonesia. This investment expansion will certainly contribute greatly to the future growth of the steel industry in Indonesia. We will facilitate and provide full support so that this project runs smoothly. We will help you with the permits. If there is a problem, don't hesitate to report it to us," said Bahlil.

Posco CEO Kim Hag Dong further added that the investment had been well facilitated by the Investment Ministry since the initial stages, and therefore he expressed his confidence in more collaboration moving forward.

"We hope that this investment can make a positive contribution to Indonesia's national economic growth and will continue to improve cooperative relations between Indonesia and South Korea in developing investment in the future," he said.

Posco is the fourth-largest steel company in the world, with a production capacity of up to 42 million tons of steel annually. The multinational company currently has two plants, located in Pohang and Gwangyang in South Korea. It also has investments in several countries in Asia, North America, Europe, and Oceania.

Krakatau Steel and Posco ink deal to advance Indonesia’s role in EV industry

PT Krakatau Steel (Persero) Tbk, along with the Investment Ministry, signed a Memorandum of Understanding (MoU) with Posco Steel of South Korean on July 28. The agreement signals the South Korean company’s plan to invest US$3.5 billion.

www.thejakartapost.com

 

[Indos]

For alluminium producer, Indonesia currently only has Inalum, which is also state owned company that has already supported Japanese brands production in Indonesia in term of alluminium raw material.

INALUM

But our private sector also has started to build one, particularly to supply Korean automotive brands in Indonesia

Hyundai Motor Company and PT Adaro Minerals Indonesia, Tbk. Signed a Memorandum of Understanding to Secure Aluminum Supply in the Face of Growing Demand for Automobile Manufacturing​

• HMG Newsroom
• 13 Nov 2022 15:00 KST

• Hyundai Motor and PT Adaro Minerals Indonesia, Tbk. (AMI) to also establish a comprehensive cooperative system regarding the production and supply of aluminum
• Based on cooperation in the production of cars, battery cells, and aluminum in Indonesia, Hyundai Motor Company will continue to discover areas of cooperation to secure future leadership of eco-friendly automobiles in Indonesia

SEOUL / BALI, November 13, 2022 – Hyundai Motor Company and PT Adaro Minerals Indonesia, Tbk. (AMI) today signed a Memorandum of Understanding (MoU) to secure a stable aluminum supply amid the growing demand for aluminum for automobile manufacturing. This cooperation is also to establish a comprehensive cooperative system regarding the production and supply of aluminum by AMI through its subsidiary PT Kalimantan Aluminium Industry (KAI), that would be beneficial for both parties.

The MoU signing ceremony took place during the B20 Summit at Bali Nusa Dua Convention Center in Indonesia, with Jaehoon Chang, President and CEO of Hyundai Motor Company and Garibaldi Thohir, President Commissioner of PT Adaro Minerals Indonesia, Tbk., participating.

The B20 is the official G20 engagement group representing the global business community with a mandate to deliver actionable policy recommendations on the priorities established by each presidency to spur economic growth and development. This year’s B20 Summit embraces the theme of ‘Advancing Innovative, Inclusive and Collaborative Growth’ in support of the G20 theme ‘Recover Together, Recover Stronger’. The collaboration between Hyundai Motor Company and PT Adaro Minerals Indonesia, Tbk. marks the company’s commitment to accelerating the transition to sustainable energy, especially carbon neutralization.

Aluminum in Indonesia, which is rich in natural resources and energy, is considered to have future competitiveness. Indonesia’s green aluminum is classified as low-carbon aluminum using hydroelectric power generation, which is an eco-friendly power source and is expected to supply aluminum that meets HMC’s carbon neutralization policy amid the growing demand for aluminum in global automakers. In addition, supply and demand became unstable due to unpredictable situational variables which led to an increase in energy prices for aluminum production.

“Hyundai Motor Company has started operating a manufacturing plant in Indonesia and is also actively cooperating with Indonesia in various areas, where it can exert synergy in the future automobile industry, such as investing in battery cell manufacturing joint ventures,” said Youngtack Lee, Senior Vice President and Head of Hyundai Motor Asia Pacific Headquarter. “This cooperation with the aluminum smelter is also expected to strengthen the relationship between Hyundai Motor Company and Indonesia with stronger synergy.”

Items of cooperation in this MoU include the production and supply of aluminum produced by KAI, Hyundai Motor’s right to purchase aluminum produced by KAI at an early stage, and then the first negotiation right to purchase low-carbon aluminum produced by KAI in the future (with undetermined offtake volume in the range of 50,000-100,000 TPA).

Christian Ariano Rachmat, President Director of PT Adaro Minerals Indonesia Tbk, said, “This cooperation shows investor’s confidence on Indonesian mineral downstream processing in the world’s largest green industrial park in North Kalimantan. With the support from all our stakeholders and Hyundai Motor Company who has the track record, experience, and cutting-edge technology on electric vehicles, we hope to achieve Commercial Operation Date (COD) by the first quarter of 2025 and produce 500,000 TPA aluminum in initial stage.”

PT Kalimantan Aluminum Industry (KAI) is a limited liability company where PT Adaro Indo Aluminum (AIA) holds a majority of its interest, and PT Adaro Indo aluminum (AIA) is also a limited liability company whose majority interest are held by PT Adaro Minerals Indonesia, Tbk. (AMI). Based on cooperation in the production of cars, battery cells, and aluminum in Indonesia, Hyundai Motor Company will continue to discover areas of cooperation to secure future leadership of eco-friendly automobiles in Indonesia.

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www.hyundaimotorgroup.com

 

[Indos]

A Series of Conglomerates Enter Smelter Business, There are Boy Thohir, Haji Isam, Kalla Group​

ILLUSTRATION. President Joko Widodo with businessman Boy Thohir during the groundbreaking of the Indonesian Green Industrial Estate in Bulungan Regency, North Kalimantan, Tuesday (21/12).

Reporters: Arfyana Citra Rahayu, Dimas Andi | Editor: Azis Husaini
Friday, 24 December 2021 / 08:58 WIB

KONTAN.CO.ID -JAKARTA. The business prospects and investment of mineral processing and refining plants or smelters are getting brighter. One indication is that a number of national conglomerates are in the smelter business.

For example, Adaro Group, owned by tycoons TP Rachmat and Boy Thohir, will build an aluminum smelter in North Kalimantan. Kalla Group through PT Bumi Mineral Sulawesi will also build a nickel smelter in Sulawesi, in collaboration with Posco from South Korea.

There is also the owner of Jhonlin Group, Andi Syamsuddin Arsyad or Haji Isam. Jhonlin Group will invest US$ 440 million or equivalent to around Rp 6.3 trillion to build a nickel smelter in South Kalimantan.

There is also PT Cita Mineral Investindo Tbk (CITA), through the associated entity PT Well Harvest Winning Alumina Refinery, the Harita Group company is building Smelter Grade Alumina (SGA) phase II with a capacity of 1 million tons of SGA per year.

Another conglomerate, Arifin Panigoro, built a copper smelter in Sumbawa through Amman Mineral (see infographic).

President Director of PT Bumi Mineral Sulawesi Afifuddin Suhaeli Kalla stated that 24% of the world's nickel reserves are in Indonesia and the majority are in Sulawesi. "We as the sons of the Sulawesi region want to enter into nickel refining because we see that there are already many smelters present in Sulawesi, but the average is foreign," he told KONTAN, Thursday (23/12).

Meanwhile, PT Adaro Aluminium Indonesia signed a Letter of Intention to Invest to build an aluminum smelter in Indonesia's Green Industrial Estate. The smelter project cost US$ 728 million in investment.

"We hope to help reduce aluminum imports, provide added value to alumina and increase state tax revenue," said Ario Rachmat, Vice President Director of ADRO, in an official statement, Thursday (23/12).

Meanwhile, Amman Mineral is developing a smelter in Sumbawa with a capacity of 900,000 tons per year which is targeted to be completed in 2023. The smelter construction process reached 27.56% as of July 2021, according to the minimum development target. "We will do our best to complete the project as soon as possible," said Rachmat Makkasau, President Director of Amman Mineral, Thursday (23/12).

In order to facilitate the implementation of the smelter project, Amman Mineral applied for incentives such as tax holidays, ease of import duties, and related permits.

The Indonesia Mining Association (IMA) sees a number of motives for the entry of tycoons into the smelter business, including profiteering. Daily Executive Director of IMA, Djoko Widajatno argued that Haji Isam's presence in the smelter industry, for example, was because he saw a promising opportunity.

ADRO entered the smelter related to the development of the bauxite smelter product industry in order to meet the needs of the construction and automotive industries.

Chairman of the Indonesian Processing and Refining Companies Association (AP3I) Prihadi Santoso hopes that not only national conglomerates will be interested in investing in the smelter industry, but also regional entrepreneurs.

"Regional entrepreneurs who know the wealth and potential of their respective regions can take advantage of this momentum," he added.

https://industri.kontan.co.id/news/sederet-konglomerat-rambah-bisnis-smelter-ada-boy-thohir-haji-isam-kalla-group

 

[Indos]

Foreign Investment in Aluminium sector (Aluminium is used in both EV car and EV Battery material). EV cars contain more aluminums than conventional cars with combustion engine.

Press Metal to acquire 25% stake in Indonesian alumina refinery firm​

Justin Lim
/
theedgemarkets.com

May 31, 2019 19:37 pm +08

KUALA LUMPUR (May 31): Asia’s largest aluminium smelter Press Metal Aluminium Holdings Bhd has entered into a memorandum of understanding with PT Bintan Alumina Indonesia (PT BAI) and its direct and indirect shareholders, comprising Shandong Nanshan Aluminium Co Ltd, Redstone Alumina International Pte and PT Makhota Karya Utama, to negotiate a proposed acquisition of a 25% stake in PT BAI.

In a bourse filling, Press Metal said the proposed investment would allow the group to secure long-term alumina supply, as PT BAI is currently building a million-ton alumina refinery plant, along with the necessary facilities in Galang Batang in Riau Islands province, Indonesia, with plans for a second phase.

Press Metal to acquire 25% stake in Indonesian alumina refinery firm

Asia’s largest aluminium smelter Press Metal Aluminium Holdings Bhd has entered into a memorandum of understanding with PT Bintan Alumina Indonesia (PT BAI) and its direct and indirect shareholders, comprising Shandong Nanshan Aluminium Co Ltd, Redstone Alumina International Pte and PT Makhota...

www.theedgemarkets.com

 

[Indos]

Britishvolt and Bakrie Group Battery Factory Permits Enter Final Stage​

Anindya Bakrie, Bakrie Group President Director, and Britishvolt CEO signing MOU

Dionisio Damara - Bisnis.com January 11, 2023 | 2:55 p.m.

Bisnis.com, JAKARTA – Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia said that the investment licensing process for the construction of the Britishvolt electric vehicle battery factory and the Bakrie Group has entered the final stage.

British Volt is a manufacturing startup and developer of low-carbon electric vehicle battery technology. By cooperating with Bakrie Group's subsidiary, PT VKTR Teknologi Mobilitas, Britishvolt's investment value is projected to reach US$ 2 billion by 2027.

"Regarding Britishvolt, it is true that investment from the UK will also go into the EV [electric vehicle] battery ecosystem and it has come in. Now the permit has been finalized, the location is also Insyaallah is almost clear," he said on Wednesday (11/1/2023).

Bahlil said that not only the UK, the investment commitment of electric vehicle battery factories in Indonesia is also inhabited by LG Energy Solution from South Korea and Contemporary Amperex Technology or CATL from China.

In addition, he continued, there are also BASF and Volkswagen from Germany, then there is the name Foxconn which comes from Taiwan. Bahlil said all the names have committed to investing in the country.

Based on Bisnis news in early December 2022, President Joko Widodo stated that Indonesia has great potential related to the manufacture of electric vehicle batteries.

According to the President, Indonesia is recorded to have 60 percent of the raw materials for electric battery production, except lithium. With all his potential, Jokowi believes this is an attraction for investors to build an electric vehicle factory in Indonesia.

"Anyone who wants to build an electric car electric motorcycle electric vehicle, will come here because it is more efficient that all the goods are there, the copper has bauxite, the chassis for the airframe car is all here," said Jokowi at the 2022 Chamber of Commerce and Industry in early December 2022.

Izin Pabrik Baterai Britishvolt dan Group Bakrie Masuk Tahap Final

Menteri Investasi/BKPM Bahlil Lahadalia mengungkapkan progres izin pembangunan pabrik baterai Britishvolt dan anak usaha Group Bakrie.

ekonomi.bisnis.com

January 20, 20237:00 PM GMT+7
Last Updated a day ago

Indonesia's Bakrie Group seeks nickel mine, partners up for $9 bln EV project​

By Stefanno Sulaiman

A worker cleans the floor at Bakrie Tower in Jakarta October 14, 2014. Picture taken October 14, 2014. REUTERS/Beawiharta

JAKARTA, Jan 20 (Reuters) - Indonesian conglomerate Bakrie & Brothers (BNBR.JK) is looking to acquire a nickel mine in the resource-rich island of Sulawesi to supply a planned integrated industrial park to produce electric vehicle batteries, an executive said on Friday.

Also known as the Bakrie Group, which has interests in coal mining, media and property, the conglomerate launched a consortium last month with Chinese energy firm Envision and global commodity giant Glencore to explore investment into an industrial park for the global nickel supply chain.

The company’s chief executive Anindya Bakrie told a forum on the sidelines of the World Economic Forum in Davos this week the planned 2,000-hectare (nearly 5,000 acres) park will need $9 billion worth of investments for everything from nickel smelting to manufacturing batteries.

Gilarsi W. Setijono, chief executive of Bakrie Group’s EV distributor unit PT VKTR Teknologi Mobilitas, said the Indonesian company plans to acquire a nickel mine in Central or Southeast Sulawesi to supply the park.

[The mine will] have enough reserves for around 140 Gigawatt-hours (of batteries) in the next 25 years,” he told reporters, without disclosing further details.

The consortium, called Indo-pacific Net-zero Battery-materials Consortium (INBC), has set a target to start producing nickel-based precusors – used to make EV batteries – by 2026, with an annual capacity equivalent to 120 GWh to be sold to Britain and European markets, Gilarsi said.

It also aims to produce 20 GWh worth of EV batteries per year by 2028 for both domestic and export markets, he said.

The consortium will launch a pre-feasibility study in March and firm up each company’s investment afterward, Gilarsi said, noting that Bakrie Group hopes to become a controlling stakeholder.

Separately, Bakrie’s VTKR plans to launch a $60 million initial public offering in the first half of 2023 to invest in its own EV production, Gilarsi said.

Indonesia is keen to capitalize on its rich nickel reserves to develop battery and EV industries. Once a major exporter of nickel ore, it halted outbound shipments of the raw material in 2020 to make sure investors have enough for domestic processing.

Envision and Glencore did not immediately respond to requests for comment.

(Reporting by Stefanno Sulaiman; Editing by Gayatri Suroyo and Kanupriya Kapoor)

Copyright 2023 Thomson Reuters,

Reporting by Stefanno Sulaiman; Editing by Gayatri Suroyo and Kanupriya Kapoor

Indonesia's Bakrie Group seeks nickel mine, partners up for $9 bln EV project

Indonesian conglomerate Bakrie & Brothers is looking to acquire a nickel mine in the resource-rich island of Sulawesi to supply a planned integrated industrial park to produce electric vehicle batteries, an executive said on Friday.

www.reuters.com

 

[Indos]

Optimizing Indonesian Nickel, Pertamina Ready to Develop EV Battery Ecosystem​

The story of Budi Raharjo • 53 minutes ago

President Director of PT Pertamina (Persero), Nicke Widyawati, at the Indonesia Pavilion, World Economic Forum, in Davos. - (Pertamina)


REPUBLIKA.CO.ID, DAVOS -- PT Pertamina (Persero) is determined to continue to play a significant role in developing the electric vehicle battery ecosystem in Indonesia by optimizing domestic resources.

"We believe that with nickel reserves in Indonesia, we can produce batteries and increase EV penetration," said President Director of PT Pertamina (Persero), Nicke Widyawati, at the Indonesia Pavilion, World Economic Forum, in Davos.

According to her, Pertamina has infrastructure that can be optimized for EV penetration and has segmentation data on characteristics, mobility, and purchasing capabilities.

In addition, Pertamina also has more than 7,400 gas stations, 6,100 Pertashops /medium scale gas stations, and 63,000 LPG outlets. Pertamina is also ready to collaborate with other parties from various countries to develop EV batteries and optimize its infrastructure.

This commitment is in line with the recommendations put forward by the B20 Energy, Sustainability and Climate Task Force (B20-TF ESC), one of which is to submit policy recommendations to accelerate the development of the electric vehicle (EV) ecosystem.

"We propose several policy recommendations and policy actions, especially how to accelerate EV penetration in each country," said Nicke Widyawati, who also serves as Chair of the B20-TF ESC during the G20 in 2022.

In the event with the theme "Indonesia Economic Development Through Downstream Industries and Inclusive Partnership", Nicke revealed the policy recommendations, including accelerating the use of sustainable energy, ensuring a fair and affordable transition, and increasing energy security.

To accelerate the use of sustainable energy, said Widyawati, Pertamina targets energy efficiency, with electrification being the determining factor for success.

"There are demand-side energy efficiency targets, how to manage energy efficiency from the demand side, and we believe electrification is a key success factor," she said.

In addition, Nicke also highlighted the need for financing, especially from developed countries, considering that the energy transition to renewable energy requires a huge capital investment. So investment support from developed countries is needed.

The second policy recommendation, then, is the need to ensure a fair and affordable transition. In the recommendations, Nicke highlighted the need to prepare for an equitable transition from sectors affected by the energy transition to related sectors. He mentioned the need to ensure sustainable practices in mineral access to build clean, low-carbon new energy infrastructure, including electric vehicles.

Then the third recommendation is the need to increase energy security. "We need frameworks and regulations like incentives to promote and accelerate the EV ecosystem," Nicke said.

The B20-TF ESC is a business community that supports the G20 with impactful and actionable policy recommendations from a business perspective. It has more than 150 members, with eight co-chairmen elected from several countries with different types of energy.

Meanwhile, the Minister of Investment/Head of the Investment Coordinating Board (BKPM) of the Republic of Indonesia, Bahlil Lahadalia, said that the development of the EV ecosystem in Indonesia has begun by involving foreign companies and SOEs, including Pertamina.

There are at least four companies that have investment plans in Indonesia to support EV development, including LG, CATL, Foxconn, and BritishVolt. According to Lahadalia, the government welcomes serious investors who come to Indonesia by providing ease of licensing facilities and tax incentives.

MSN

 

[Indos]

PLN road map

 

[Indos]

PT Freeport Indonesia smelter project (3 billion USD)

 

[Indos]

Indonesian electric two-wheelers start-up bags $37.6M for seed funding
​

MAKA Motors founders Arief Fadillah (left) and Raditya Wibowo (right) pose in front of the camera in an undated photo.(Courtesy of MAKA Motors/-)

Deni Ghifari (The Jakarta Post)



Homegrown electric vehicle (EV) start-up MAKA Motors received a sum of US$37.6 million in seed funding co-led by AC Ventures, East Ventures and South Korean venture capital (VC) firm SV Investment. The company earmarked the fund for scaling up its operation, expanding its research and development (R&D) as well as accelerating its electric two-wheeler production. MAKA Motors founder and CEO Raditya Wibowo said on Thursday, the start-up aims to conduct its R&D within the company as opposed to outsourcing them like other EV firms.

https://www.thejakartapost.com/business/2023/07/20/indonesian-electric-two-wheelers-start-up-bags-37-6m-for-seed-funding.html

GoTo, Toba Break Ground on Electric Motorcycle Factory in Cikarang with $1B Investment​

Executives of Electrum, a joint venture of GoTo Gojek Tokopedia (GOTO) and energy company TBS Energi Utama (TOBA), break ground on an electric motorcycle assembly plant in Cikarang, West Java, Friday, June 23, 2023. (Zsazya Senorita)


Zsazya Senorita
June 23, 2023 | 3:07 pm


Jakarta. Tech company GoTo Gojek Tokopedia (GOTO) in collaboration with energy company TBS Energi Utama (TOBA) broke ground on an electric motorcycle assembly plant in Cikarang, West Java, on Friday.

The two companies have established a joint venture called Electrum to initiate the project.
The factory occupies an area at Greenland International Industrial Center on Jakarta-Cikampek Toll Road KM 37 just east of Jakarta.

“We begin with the construction of an assembly line with a capacity of 250,000 motorcycles a year. The entire lines will have a capacity of up to 1 million when completed,” Electrum Managing Director Patrick Adhiatmadja told reporters in Cikarang.

The project is estimated to cost $1 billion for the first four years with an equal cost-sharing agreement between GoTo and Toba, Electrum CEO Pandu Sjahrir added.

The assembly plant construction will take a portion of the total investment, but Pandu declined to go into detail.

“As one of the initiators for the most thorough, integrated electric vehicle ecosystem in Indonesia, Electrum announces that we commence building our first electric motorcycle factory in Indonesia,” the joint venture company said in a statement.

Ride-hailing company Gojek will supply its entire two-wheeler fleet with Electrum motorcycles by 2030, ensuring a captive market of thousands of electric bikes.

It will also oblige all partnering drivers to use electric cars only by the end of this decade.
“Since the large majority of the Gojek ecosystem is two-wheelers, we are focused on electric motorbikes first,” GoTo Head of Sustainability Department Tanah Sullivan said recently.

GoTo, Toba Break Ground on Electric Motorcycle Factory in Cikarang with $1B Investment

The project is estimated to cost $1 billion for the first two years with an equal cost-sharing agreement between GoTo and Toba.

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