PORTALJABAR, DISTRICT. KARAWANG - West Java is officially home to the largest and first electric vehicle battery cell factory in Southeast Asia.

President Joko Widodo inaugurated the PT Hyundai LG Indonesia (HLI) Green Power factory in the Karawang New Industry City (KNIC) area, West Jambe Bay, Karawang Regency, Wednesday (3/7/2024).

President Jokowi was accompanied by Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Minister of Investment/BKPM Bahlil Lahadalia, Minister of Industry Agus Gumiwang, Minister of BUMN Erick Thohir, and Acting Governor of West Java Bey Machmudin.

"Today I inaugurated the factory and ecosystem and electric vehicle batteries in Indonesia," said Joko Widodo.

Before the inauguration, Jokowi first toured the HLI Green Power factory and then signed the hood of the Kona Electric car, which was the first to use locally made batteries.

During the review, Jokowi was accompanied by the Minister of Trade of the Republic of Korea, Inkyo Cheong.

The battery cell factory, which stands on an area of 330,000 square meters, is capable of producing lithium ion battery cells with a total capacity of 10 GWH per year. This amount is to fulfill 150,000 electric vehicle battery units.

The first car to use this locally made battery is the newest Hyundai Kona Electric. This car will soon be available in Indonesia with a price range of IDR 500 million.

The initial investment in the factory was valued at USD 1.2 billion. The presence of this battery cell factory is expected to provide many positive things for West Java, such as increasing regional income through investment taxes, absorbing labor thereby reducing unemployment, and increasing the competitiveness of the West Java region itself.

Investment trends in West Java continue to be positive. West Java is home to 14,000 companies which currently exist with investment.

In 2024 West Java will contribute 148.5 percent of national investment growth or a value of around IDR 210 trillion (both PMA and PMDN).