China’s Huayou replaces LG in Indonesia’s $7.7B EV battery project

Jakarta’s flip-flops stall investment, say analysts after LG pulls out of US$8.45bil nickel plan

JAKARTA: The decision by South Korean company LG to exit a US$8.45 billion plan to build an electric vehicle (EV) battery supply chain in Indonesia has sparked debate over Jakarta's inconsistent policies and slow decision-making.

China’s Huayou replaces LG in Indonesia’s $7.7B EV battery project

China’s Huayou Cobalt replaced LG Energy Solution in Indonesia’s $7.7 billion electric vehicle (EV) battery project. The shift underscores China’s growing influence in Southeast Asia’s EV supply chain. Indonesia’s Minister of Energy and Mineral Resources, Bahlil Lahadalia, confirmed that Huayou would replace LG in the Grand Package, a plan to build a comprehensive EV battery ecosystem. The Grand Package, also called Project Titan, included plans…