Indonesia: Ford in $4.5 billion agreement for EV battery materials plant

Posted by - March 30, 2023

U.S. carmaker, Ford¬†has announced a partnership with PT Vale Indonesia¬†and China’s Zhejiang Huayou Cobalt’s as their new partner in a $4.5 billion nickel processing plant in Indonesia, the companies said on Thursday. The investment is Ford’s first in the Southeast Asian country and underscores growing appetite among automakers for raw materials used in producing electric vehicle (EV)