MIND ID Explores New Alliance for Electric Vehicle Business Development

MANUFAKTUR - JAKARTA. BUMN Holding Mining Industry MIND ID, or Mining Industry Indonesia, which consists of PT Aneka Tambang Tbk, PT Bukit Asam Tbk, PT Freeport Indonesia, PT Inalum (Persero) and PT Timah Tbk visited British electric vehicle manufacturer ARRIVAL Ltd.

The parties met to explore potential supply solutions, including Battery & Aluminium and also discuss the design and development of electric vehicles. The meeting was held by the President Director of MIND ID, Hendi Prio Santoso and the Founder & CEO of ARRIVAL, Denis Sverdlov on 20 May 2022 in the United Kingdom.

The event was also attended by the Deputy Minister of State for SOEs Mr. Pahala Nugraha Mansury and the Ambassador of the Republic of Indonesia to the United Kingdom HE. Desra Percaya. This initiation is part of MIND ID's efforts in exploring the development of a commercial electric battery microfactory in Indonesia and Southeast Asia.

The President Director of MIND ID, Hendi Prio Santoso said: "MIND ID has three mandates from the Government, namely: Managing strategic reserves and resources, Downstreaming and Having market leadership which is realized through optimizing mineral commodities and business expansion.

This collaboration will expand the potential for developing the company's new portfolio in the long term, especially in the field of developing the electric vehicle ecosystem in Indonesia."

Arrival is constantly striving to improve its supply chain and develop strategic initiatives to secure the raw materials required to satisfy global demand for electric vehicles.

With the microfactory method, Arrival is revolutionizing the traditional approach to vehicle production by eliminating shipment cost and maximizing added value through designing and producing local products. This is the essence of potential collaboration with MindID in Southeast Asia.

As a shareholder of Indonesia Battery Corporation (IBC), MIND ID continues to look for new opportunities to develop the electric vehicle battery ecosystem. This is one of the manifestations in MIND ID's strategic plan, a potential for the strategic alliance for new downstream business expansion; and Capability development and portfolio optimization.

With this collaboration, it is hoped that MIND ID and Inalum will have a future role in Arrival’s Aluminium Supply Chain, while MIND ID together with IBC as Global Supply Chain for Battery, welcomes the opportunity to conduct research and discuss the potential joint development of commercial electric vehicle products for developing countries which can be carried out in Indonesia.

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