Chinese battery maker CNGR plans a $10B investment in a battery material plant in Indonesia to boost local production and support EVs.

Chinese battery manufacturer CNGR is contemplating a $10 billion investment in a battery material plant in Indonesia, aimed at enhancing local production and supporting the electric vehicle sector. This initiative follows a profitable quarter for CATL, another major EV battery producer. CNGR seeks a suitable site for the plant, leveraging Indonesia's rich nickel resources over a projected 10 to 15-year timeline.

October 30, 2024
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