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Industrials

Indonesia says China consortium to invest $5 billion in electric battery venture

JAKARTA (Reuters) - Indonesia’s state-owned enterprises minister said on Friday that a Chinese consortium would invest $5 billion in an electric batteries venture, which would include China’s Contemporary Amperex Technology (CATL).

Erick Thohir was speaking during a visit to China and was referring to a deal announced late last year, where CATL would invest $5 billion in a lithium battery plant in Indonesia and would start production in 2024.

Reporting by Stanley Widianto and Nilufar Rizki; Editing by Martin Petty

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