Chinese consortium to invest $5bn in electric battery venture

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Indonesia’s state-owned enterprises minister said on Friday that a Chinese consortium would invest $5 billion in an electric batteries venture, which would include China’s Contemporary Amperex Technology (CATL).

Erick Thohir was speaking during a visit to China and was referring to a deal announced late last year, where CATL would invest $5 billion in a lithium battery plant in Indonesia and would start production in 2024.

REUTERS