Huayou Replaces LG in Indonesia's EV Battery Project

Jakarta, VIVA – Indonesian Ministry of Energy and Mineral Resources (ESDM) has responded to the departure of LG from a US$9.8 billion investment project for the development of electric vehicle (EV) batteries, which will now be taken over by Chinese company Huayou.

Director General of Minerals and Coal at the ESDM Ministry, Tri Winarno, emphasized that the government welcomes every investor with open arms.

"Basically, we welcome anyone who wants to invest in Indonesia. That's the key point," Winarno said when met at the ESDM Ministry office in Jakarta on Friday (Apr 25).

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Photo :

• VIVA/Krisna Wicaksono

He assured that the government will always strive to facilitate investors who wish to invest in Indonesia.

This includes helping resolve any obstacles investors may face during the investment process, whether they come from countries allied with the United States or from China.

However, when asked further, he did not specify which partners would be working alongside Huayou in developing the EV battery ecosystem that was previously led by LG.

He simply stressed that in terms of business arrangements, the government cannot intervene.

What matters, he said, is that the government will continue to assist and facilitate investors in overcoming any investment hurdles.

"As for business-to-business dealings, the government cannot interfere. They are free to partner with whoever they choose. What’s important is that if there are issues or challenges, they can bring them to us and we will help facilitate solutions," Winarno added.

Earlier, a similar sentiment was also expressed by the Minister of Industry, Agus Gumiwang Kartasasmita, who said he was not concerned about LG’s withdrawal from the EV battery project investment.

"There’s no need to worry because it will be replaced by a new investment partner from China, namely Huayou," the minister said.

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He simply stressed that in terms of business arrangements, the government cannot intervene.