GAC Aion Plans Local Production in Q1 Next Year
As part of the GAC Group, Aion has begun expanding its market to Indonesia. In the near future, the Chinese manufacturer is also preparing to build a production facility in the country. The CEO of Aion Indonesia stated that the company is committed to launching electric vehicles at prices that meet community expectations. According to him, Aion's electric vehicles will not be cheap, but they will adjust consumer expectations as much as possible in terms of price and models. All models will be produced locally, including the Aion Y Plus and Hyptec HT. Meanwhile, the initial launch phase does not yet include batteries, as only 40% of the TKDN is required. If batteries are included, it must exceed 40%, and this will depend on regulatory requirements in the future.
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Norde Shares Joins Hands with Indonesia IBC to Build Battery Industry Chain
On September 30, the world's largest lithium battery and electrolytic copper foil manufacturer Norde Shares signed a memorandum of understanding with Indonesia Battery Corporation (IBC). The scope of cooperation under this MoU includes market research for lithium-ion battery and PCB copper foil, and exploring investment plans to form a copper foil joint venture. The head of Indonesia Battery Corporation expressed strong support for this initiative, promoting Indonesia as a global production hub for the battery industry, capable of supplying battery products and components to the EU, the US, and Asia. Norde Chairman Chen Lizhi stated that leveraging Indonesia's abundant copper resources, Indonesia will become Norde's hub for market expansion in the ASEAN region
Indonesia Focuses on Agricultural Downstream to Dominate ASEAN Region
Falling commodity prices and China's economic slowdown will pose challenges for the new government in boosting exports, yet Indonesia also has significant export potential in the agricultural downstream sector. After the outbreak of the Russia-Ukraine war in February 2022, commodity prices surged in 2022. Prices of coal, gold, and crude palm oil (CPO) hit record highs one after another. Data shows that the average coal price in 2022 reached US$345.41 per ton, up 128.6% from the previous year. Similarly, the average annual price of crude palm oil soared to RM 4,155.1 per ton in 2022, an increase of 134%. In 2022
Southeast Asia's GDP Reaches USD 3.4 Trillion, Becoming a Strong Economy
From 2010 to 2022, the average economic growth rate of the Southeast Asian region was 4.4%, and the region is also considered a new force in the global economy. The Deputy Managing Director of Drewry Maritime Services Asia Pte Ltd stated that the Southeast Asian region maintains stable growth every year, with an increase of over 4%. With this growth, Southeast Asia's Gross Domestic Product (GDP) has reached USD 3.4 trillion. Looking to the future, growth expectations are very good, and they expect growth across Southeast Asia to be well above 4%. Southeast Asia is one of the largest economies in the world; in fact, over the past 15 years, Southeast Asia's GDP growth has exceeded 4%.
Indonesia's Nickel Downstream Projects Drive Significant Export Value Growth
President Joko Widodo stated that the nickel downstream projects have successfully driven a substantial increase in export value. Indonesia's downstream nickel export value has soared from the previous IDR 33 trillion to IDR 510 trillion. As Coordinating Minister Luhut said, Indonesia's nickel export value is now USD 34 billion, leaping from IDR 33 trillion to approximately IDR 510 trillion. Jokowi stated that the downstream policy of stopping nickel ore exports has both pros and cons, and Indonesia was even sued by the European Union (EU) at the World Trade Organization (WTO). Although they lost, Indonesia is a sovereign country, and national interests come before everything else; they cannot follow anyone's orders.
World's Largest Single-Line Copper Smelter Begins Initial Production
PT Freeport Indonesia (PTFI) is preparing to commence initial production of cathode copper at its new processing and refining facility (smelter) in Gresik, East Java (Jatim). The production of cathode copper will mark an important milestone in Indonesia's downstream natural resource industry. The world's largest single-line smelter has an annual copper concentrate refining capacity of up to 1.7 million tons. Combined with the already operational first smelter, PT Smelting, the two companies will refine 3 million tons of copper concentrate annually, producing approximately 1 million tons of cathode copper, 50 tons of gold, and 220 tons of silver annually.
Deer Group Supports Indonesia's New Capital Development, Boosts Investment Confidence
On September 25, President Joko Widodo presided over the 8th groundbreaking ceremony in the new capital, attended by Zheng Nanyan, CEO of the renowned Chinese hotel group Deer Group. During the groundbreaking ceremony, Jokowi said that Deer Group operates 9 hotel brands and 1,600 properties in multiple countries worldwide. The Deer Group's new capital project will become an important force in promoting the development of Indonesia's new capital, boosting the confidence of other investors to enter the new capital. Deer Group officially entered the Indonesian market in July 2023, investing in the Indonesian hotel management platform IHI (Indies Hospitality I
Indonesia Plans to Ban Sales of Fuel Vehicles by 2045
The government plans to increase the use of electric vehicles at increasingly affordable prices, while traditional vehicles using gasoline (BBM) will be restricted due to a sales ban. The Coordinating Ministry for Maritime and Investment Affairs (Kemenko Marves) stated that it is formulating a ban on the sale of traditional vehicles based on internal combustion engines (ICE) using gasoline. The Deputy for Infrastructure and Transportation Coordination at Marves said that banning the sale of gasoline vehicles will be part of efforts to accelerate the adoption of electric vehicles or battery electric vehicles (BEV). They continue to work on formulating a policy mechanism to ban the sale of traditional vehicles.