Business News

Construction of an EV Battery Factory in Karawang
Project Owner : Hyundai Motor Group and LG Energy Solution

Description : Hyundai Motor Group collaborates with LG Energy Solution. Ltd. to ensure a stable supply of electric vehicle batteries for battery powered electric vehicles or BEVs.

Hyundai Motor Group and LG Energy Solution will invest US$ 1.1 billion in a joint venture to build a battery cell factory in Karawang, Indonesia.

The construction of the factory is scheduled to begin in the fourth quarter of 2021 and will be completed in the first half of 2023. The mass production of battery cells at the new facility is expected to begin in the first half of 2024.

The new battery cell factory in Karawang will be built on an area of 330,000 square meters. When fully operational, the facility is expected to produce a total of 10 GWh of NCMA lithium-ion battery cells annually, and be able to meet the needs of more than 150,000 electric cars.

The battery cells produced by the factory in Karawang will be used in EV models from Hyundai Motor and Kia which are built on Hyundai Motor Group's dedicated BEV platform, namely the Electric-Global Modular Platform (E-GMP).

Project Value : US$ 1.1 billion

Project Schedule: 2021 to 2023