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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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General Motors to Invest $76M To Boost Pickup Truck Manufacturing

Automaker General Motors  (GM) – Get Report on Monday said it plans to invest $76 million in two of its manufacturing plants in New York and Ohio to increase the manufacturing capacity of its pickup trucks.

The Warren, Mich., company will invest roughly $70 million into its Tonawanda, New York engine plant and more than $6 million into its Parma, Ohio metal stamping plant.

The Tonawanda plant investment will be used to increase manufacturing capacity for engines used in GM’s Chevrolet Silverado and GMC Sierra HD pickups, among others.

“GM continues to invest to strengthen our core business and respond to growing customer demand for our full-size pickups,” said Phil Kienle, vice president of North America Manufacturing and Labor Relations, in a statement.

The Parma plant investment will be used to boost production volume for trucks with the construction of four new metal assembly cells, the Detroit carmaker

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