Hyundai, LG Energy sign MoU with Indonesian government to set up battery cell plant

Corporate developments

Hyundai and LG Energy will invest USD1.1 billion into the JV to build a battery cell plant in Karawang, Indonesia

Korean carmaker Hyundai Motor Group and battery supplier LG Energy Solution have signed a Memorandum of Understanding (MoU) with the Government of Indonesia to establish a joint venture (JV) in Indonesia to manufacture battery cells for battery electric vehicles (BEVs), the company said in a press announcement on 29 July.

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