In September, Hyundai Motor Group announced the commencement of construction of an Electric Vehicle (EV) battery cell plant in Karawang, near Jakarta Indonesia. The production plant, established in a joint cooperation with LG Energy Solutions, is expected to be completed in 2024, and is expected to have a production capacity of 10 Gwh worth of battery cells, enough to power over 150,000 E-GMP battery Electric Vehicles, and would help Hyundai secure a stable supply of EV battery cells to meet rising EV demands.
The Joint Venture was first established in July 2021, where both companies signed a Memorandum of Understanding with the Indonesian Government to manufacture battery cells for BEVs. The new factory will occupy over 330 thousand square meters, and the batteries produced would be used in car models from Hyundai and Kia. This would enable both brands to produce vehicles with high efficiency, performance, and safety by supplying battery cells optimized for the two automakers’ BEV models, and would ensure a steady supply of batteries as global demand increases.