battery

Indonesia says China’s CATL plans to invest $5 billion in lithium battery plant

JAKARTA (Reuters) – China’s Contemporary Amperex Technology (CATL) plans to invest $5 billion in a lithium battery plant in Indonesia, Indonesia’s deputy minister at the coordinating ministry of maritime and investment affairs said on Tuesday.



a tall building: FILE PHOTO: Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde


© Reuters/CHINA STRINGER NETWORK
FILE PHOTO: Sign of Chinese battery maker Contemporary Amperex Technology Ltd (CATL) is seen on its building in Ningde

The lithium battery plant will start production in 2024, deputy minister, Septian Hario Seto, told a virtual briefing.

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“The target is that they (CATL) will invest around $5 billion… and the first production of batteries can be done in 2024,” Septian said.

He said CATL has signed an agreement with Indonesian state miner PT Aneka Tambang requiring CATL to ensure 60% of nickel be processed into batteries in Indonesia.

“We don’t want them to get our nickel but then process it abroad,” he said.

CATL did not immediately respond to

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With green battery standards, EU seeks a competitive edge

By Kate Abnett

BRUSSELS, Dec 10 (Reuters)Electric car and industrial batteries sold in Europe will soon face legally binding environmental standards, the European Commission said on Thursday, as it seeks to give local producers an edge in a rapidly growing global market.

Europe’s battery demand is set to soar this decade, spurred by the 30 million electric vehicles the EU says Europeans will be driving by 2030.

The Commission on Thursday proposed regulations to ensure that demand is met by greener batteries with lower emissions, produced using recycled materials. The proposals need approval from EU member states and the European Parliament.

“Batteries placed on our market, regardless of their origin, they will be sustainable,” Commission Vice-President Maros Sefcovic said.

Under the proposals, rechargeable electric vehicle (EV) and industrial batteries sold in Europe must disclose their carbon footprint from 2024, and comply with a CO2 emissions limit from

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