Hyundai Motor Group announced on Dec. 15 (local time) that it has established Hyundai Energy Indonesia, a battery pack production corporation, completing its battery value chain in Indonesia. Ground will be broken for the company’s battery packing plant in the first half of 2023.
Hyundai Motor Group has HLI Green Power, a battery cell joint venture with LG Energy Solution in Indonesia. The two companies are currently building a battery cell factory by investing about 1.5 trillion won. They aim to produce lithium-ion battery cells for more than 150,000 electric vehicles (EVs) per year.
Hyundai Energy Indonesia will produce battery packs with battery cells from HLI Green Power and load them into EVs made in Indonesia.
In March, Hyundai Motor began rolling out the IONIQ 5 EV, the Stargazer multipurpose vehicle (MPV), and the Creta compact sports utility vehicle (SUV) at its plant in Bekasi, outside Jakarta.
Through production of battery packs and battery cells in Indonesia, Hyundai Motor’s EV localization rate is expected to surge, allowing the company to export its EVs to ASEAN countries duty-free.
