Three European Companies Seek to Invest in Indonesia’s Battery Industry

President Joko Widodo (Jokowi) met with three European companies at Kastens Luisenhoff Hotel, Hannover, Germany on Sunday.

IDXChannel - President Joko Widodo (Jokowi) met with three European companies at Kastens Luisenhoff Hotel, Hannover, Germany on Sunday.

The companies are BASF, Eramet and Volkswagen’s PowerCo. During the meeting, BASF company leaders said they would invest in the development of a car battery ecosystem in North Maluku.

"BASF directly conveyed its investment interest to President Jokowi in the context of building a car battery ecosystem in North Maluku with an investment of approximately USD2.6 billion," Minister of Investment Bahlil Lahadalia said in a statement on Monday (17/17/2019). 

Bahlil said that, BASF would work with French company Eramet to develop this ecosystem by implementing business practices that pay attention to environmental issues. 

"The construction process will begin at the end of 2023," said Bahlil.

Bahlil explained that the Volkswagen company through PowerCo will also build a car battery ecosystem in Indonesia by collaborating with a number of companies, including national companies.

Bahlil believes this is the right momentum to show that Indonesia is offering many investment opportunities to companies around the world. (WHY)