Recently, CNGR Advanced Material Co., Ltd., a leader in China's battery materials industry, announced a shocking investment decision: the company plans to invest in the construction of a large-scale integrated production facility in Indonesia, with a total investment of up to 10 billion US dollars (approximately 69 billion yuan).

According to Magdalena Veronika, the Indonesian director of Zhongwei New Materials, the project has been listed as a national strategic project by the Indonesian government and is expected to be gradually completed in the next 10 to 15 years. At present, Zhongwei Corporation is intensively selecting a site for the factory, striving to find a suitable and spacious area that can accommodate 3000 to 5000 hectares of land. Magdalena stated that the project is expected to have a total investment of up to 10.5 billion US dollars and will be implemented in stages, aiming to create a comprehensive production base integrating battery material research and development, production, and sales.

Zhongwei Corporation's layout in Indonesia is not groundless. The company has been involved in the production of primary nickel products in Indonesia for a long time. The construction of this new factory has turned its attention to battery precursor products, which is of great significance for improving battery performance and reducing costs. Magdalena also revealed that Zhongwei Corporation is willing to open up cooperation and invite partners to build processing plants in the new factory to jointly build a complete industrial chain ecosystem.

It is worth noting that the Indonesian government has provided great support for this project. In order to attract more electric vehicle manufacturers and battery producers to invest and establish factories in Indonesia, Indonesia announced a ban on nickel ore exports in 2020, aiming to leverage its abundant nickel resources and create an integrated battery industry and electric vehicle ecosystem. This policy not only provides a favorable external environment for Zhongwei Corporation's investment, but also attracts many internationally renowned enterprises, including South Korean LG New Energy and Hyundai Motor, to settle in.

In fact, in recent years, Indonesia has become a popular investment destination in the global electric vehicle industry chain. In addition to Zhongwei Corporation, electric vehicle manufacturers such as BYD and VinFast from Vietnam have also chosen to establish production bases in Indonesia. Especially in July this year, the battery factory jointly invested by Hyundai Motor and LG New Energy in South Korea was officially put into operation in Indonesia, marking the birth of the first electric vehicle battery manufacturing plant in Indonesia and even Southeast Asia. This series of investment activities undoubtedly injects strong impetus into the development of Indonesia's electric vehicle industry.