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Ford and Hyundai talk about EV investments in Indonesia

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© Stocksak. FILEPHOTO: The Ford logo was pictured at 2019 Frankfurt Motor Show (IAA), Frankfurt, Germany, September 10, 2019. REUTERS/Wolfgang Rattay

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DETROIT (Stocksak) – Indonesia is in talks with Ford Motor (NYSE 🙂 Co and Hyundai Motor Co in order to establish operations related electric vehicles in the Southeast Asian nation, Airlangga Hartarto, Indonesia Coordinating Minister of Economic Affairs, said to an audience in Washington, D.C., on Thursday.

Ford, China’s Zhejiang Huayou Cobalt and nickel miner Vale Indonesia signed a non-binding memorandum to cooperate to build a nickel chemical plant in Indonesia.

Hartarto indicated that Indonesia is also in discussions with Hyundai, South Korean battery maker LG Energy Solution, and Indonesia regarding EV and battery investments.

Hartarto stated that “we have raw materials for EV batteries technologies.” Hartarto spoke to an audience at the Center for Strategic and International Studies. He stated that the U.S. can benefit from Indonesia’s large supply of nickel and semiconductor production capacities.

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