Volkswagen in Talks With Indonesia Government About EV Battery Raw Materials
April 17 2023 - 9:18AM
Dow Jones News
By David Sachs and Cecilia Butini
German car maker Volkswagen AG is part of a group of companies
talking with the Indonesian government about developing a supply
chain in the country for electric-vehicle batteries, the Indonesian
government said in a statement Monday.
The country's President Joko Widodo and investment minister
Bahlil Lahadalia said they met with Volkswagen representatives,
German chemical company BASF SE and French mining company Eramet SA
to discuss an "EV battery ecosystem" investment in the country's
North Maluku province.
The car maker said its battery company PowerCo is holding talks
worldwide on raw-material hedging, including in the Southeast Asian
country.
"At the moment, discussions are being further deepened--we will
be happy to inform you about the results in due course," Volkswagen
said in a statement. "Indonesia is an important and interesting
country in terms of raw materials--we are in good contact with the
government and suppliers."
BASF and Eramet confirmed they are studying the possibility of
building a hydrometallurgical plant to produce battery-grade cobalt
and nickel products in Indonesia, but neither has announced an
investment. BASF didn't give a timeline for a possible investment,
while Eramet said it would decide in the second half of this
year.
Write to David Sachs at david.sachs@wsj.com and to Cecilia
Butini at cecilia.butini@wsj.com
(END) Dow Jones Newswires
April 17, 2023 09:03 ET (13:03 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
BASF (QX) (USOTC:BASFY)
Historical Stock Chart
From Jan 2025 to Feb 2025
BASF (QX) (USOTC:BASFY)
Historical Stock Chart
From Feb 2024 to Feb 2025
