Jakarta, April 23, 2025 (AFP) - Indonesia says China's Huayou to replace LGES in EV battery project

NAMPA / AFP

2025-04-23

China's Zhejiang Huayou Cobalt is replacing South Korea's LG Energy Solution as a strategic investor in a multibillion-dollar project to build an electric vehicle battery joint venture in Indonesia, officials said on Wednesday. The South Korean company, which was part of a consortium that signed a 142 trillion rupiah ($8.4 billion) "Grand Project" in 2020, announced its withdrawal from the project this week, citing factors including market condit......

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