JAKARTA (Reuters) – Indonesia and South Korean firm LG Group have signed a memorandum of understanding (MOU) on a $9.8 billion electric vehicle battery investment deal, the head of Indonesia’s Investment Coordinating Board said on Wednesday.
The deal was signed on Dec. 18 and would also see LG collaborate with other companies, including Hyundai, the board’s head, Bahlil Lahadalia, told a news conference, adding that the deal includes investments across the EV supply chain.
Bahlil said the agreement “makes Indonesia the first country in the world to integrate the electric battery industry from mining to (producing) electric car lithium batteries.”
Reporting by Bernadette Christina Munthe; Writing by Fathin Ungku; Editing by Martin Petty
vCard.red is a free platform for creating a mobile-friendly digital business cards. You can easily create a vCard and generate a QR code for it, allowing others to scan and save your contact details instantly.
The platform allows you to display contact information, social media links, services, and products all in one shareable link. Optional features include appointment scheduling, WhatsApp-based storefronts, media galleries, and custom design options.