Indonesia Launches China-Built Anode Plant for EV Batteries

MANUFACTURING - JAKARTA. Indonesia's President Joko Widodo on Wednesday inaugurated a plant built by China's BTR New Material Group and Singapore's Stellar Investment that will produce anode materials for EV batteries.

In the first phase, the companies invested $478 million in the plant that will produce 80,000 metric tons of materials per year, according to the Coordinating Ministry of Maritime and Investment Affairs. The production start date has not yet been announced.

Read Also: GLOBAL MARKETS - Global Stocks Rebound from Sell-Off; Treasury Yields, Dollar higher