Commences construction on a fresh battery factory in Indonesia by CATL

CATL Accelerates Global Expansion with New Gigafactories

China's Contemporary Amperex Technology Co. Limited (CATL) has made significant strides in its global expansion over the last year, with several new projects underway. One of these projects is the Indonesia Battery Integration Project (IBIP), a joint venture between CATL and the Indonesian Battery Corporation (IBC).

The battery facility, located in Karawang, Indonesia, is expected to cost $1.2 billion and will be built and operated by PT Contemporary Amperex Technology Indonesia Battery (CATIB). Once fully operational, IBIP will have an initial annual output of 6.9GWh of lithium-ion batteries. This is a crucial step towards the Indonesian government's goal of producing 600,000 BEVs (Battery Electric Vehicles) per year by 2030.

IBIP covers the entire battery value chain, including nickel mining and processing, battery manufacturing, and recycling operations. At full functionality, IBIP is expected to produce 142,000 tonnes of nickel and 30,000 tonnes of cathode materials. It also has the capacity to produce 20,000 tonnes of recycled batteries.

Another addition to CATL's overseas service network is the Spanish gigafactory, a joint venture between CATL and Stellantis. This $4.3 billion facility, announced earlier this year, is one of CATL's recent initiatives in its global expansion. The Spanish gigafactory will contribute to strengthening CATL's global battery production capacity, similar to the Hungarian gigafactory, which is one of the projects financed by the funds raised through the Hong Kong Stock Exchange.

CATL raised $4 billion in funding through a listing on the Hong Kong Stock Exchange for the construction of the Hungarian gigafactory. The first stage of IBIP is expected to be completed by the end of 2026. Since its announcement in 2022, CATL has committed $6 billion to IBIP.

CATL's global expansion includes the development of gigafactories in multiple countries. The leadership of PT Contemporary Amperex Technology Indonesia Battery includes key executives such as the CEO and other senior management, but specific names are not publicly detailed. These strategic moves demonstrate CATL's commitment to supporting the global transition to electric vehicles and contributing to the sustainable development of battery technology.