The Indonesian Investment Coordinating Board revealed that besides CATL and Zhejiang Huayou Cobalt Co., Ltd., there may be new Chinese investors participating in Indonesia's electric vehicle battery project. The investment plan is part of the IDR 162 trillion investment promised during Chinese Premier Li Qiang's visit to Indonesia in May 2025. Currently, negotiations are at an initial stage, and the identity of the new investor has not yet been determined, but it is confirmed not to be the CATL Group. The "Dragon Project" in collaboration between Indonesia and CATL, with an investment of USD 600 million, is the world's first comprehensive battery ecosystem project, covering the complete industrial chain from mining to battery recycling. Indonesia Battery Corporation (IBC) represents state-owned enterprises in the project, while CATL invests through its subsidiary CBL. Additionally, the "Titan Project" in collaboration between IBC and Huayou, with Huayou replacing LG Energy Solution Co., Ltd., involves an investment of USD 9.8 billion and is also a comprehensive full-industry-chain project.