Chinese battery manufacturer Contemporary Amperex Technology Co., Limited (CATL) is investing $1.2 billion (approximately IDR 18.66 trillion) in Indonesia. CATL, through its subsidiary CBL International Development, has established a partnership with PT Indonesia Battery Corporation (IBC) and formed a joint venture to produce batteries for the Southeast Asian market. The project is located in Karawang, West Java, continuing the ambition to become a global electric vehicle hub. Battery production capacity is expected to increase to 15 gigawatts (GW) per year. This move marks an important step towards establishing a complete electric vehicle supply chain in Indonesia, a key goal set by President Joko Widodo. The Indonesian government is trying to leverage its massive production of nickel (a key material for some batteries) to attract foreign investors into the electric vehicle industry. Earlier this year, Hyundai Motor Group and LG Energy Solution Ltd. opened the first battery factory in Indonesia, while China's BTR New Material Group opened an anode material factory.