China Moves in: Indonesia’s EV Strategy Shakes Up Global Battery Politics
Indonesia’s flagship electric vehicle (EV) battery consortium has come under the spotlight of the global community following the removal of South Korea’s LG Energy Solution and the potential entry of Beijing-backed Zhejiang Huayou Cobalt. The development has intensified geopolitical and economic concerns about Beijing’s growing dominance in the global EV supply chain. In fact, Huayou had already expressed its interest in the Titan project as early as last year, and it already had “the technology.” The intention was clear: China has been increasing its influence in neighbouring Indonesia’s burgeoning EV supply chain.
The $9.8 billion electric vehicle (EV) battery project, also known as the Titan Project, is part of Indonesia’s plan to climb the value chain in battery manufacturing. ...