Indonesia and LG Chem deepen cooperation on clean energy and electric vehicles

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The Minister of Economic Coordination met with the Executive Vice President of LG Chemical Advanced Materials to discuss the opportunities and challenges of electric vehicles. LG Chemical demonstrated its support for Indonesia's clean energy and electric vehicle ecosystem, and the two sides reached consensus on multiple areas of cooperation.

Recently, the Minister of Economic Coordination warmly received the Executive Vice President of LG Chemical Advanced Materials Company and his party in the Office of the Ministry of Economic Coordination. The two parties conducted in-depth discussions on the current situation and future trends of the electric vehicle industry, and focused on LG Chemical in Indonesia. Cooperation prospects and investment potential.

The Minister of Economic Coordination of highly appreciated LG Group's firm support in promoting the development of Indonesia's electric vehicle ecosystem and clean energy, and looked forward to further deepening cooperation between the two sides. Both sides agreed that despite the slowdown in global demand for electric vehicles, Indonesia still has great potential for development in this field. The head of LG Chem expressed his sincere gratitude to the Indonesian government for its strong support and reiterated Indonesia's position as its important strategic partner.

During the exchange, LG Chem detailed its core role in the global electric vehicle supply chain, especially the battery factory construction project jointly promoted with Hyundai Motor in Karawang, West Java. The project will be implemented gradually in two phases, aiming to meet the growing demand for electric vehicle batteries. In addition, LG Chem also proposed the idea of cooperation in the field of biodegradable plastics and expressed its strong interest in such environmental protection projects. The Minister of Economic Coordination warmly welcomed this and emphasized that the Indonesian government has always maintained an open investment attitude towards clean energy projects.

The two sides also conducted in-depth discussions on the potential for cooperation in the conversion of palm oil into sustainable aviation fuel, and believed that this field has broad development prospects. The meeting not only deepened the strategic partnership between Indonesia and LG Chem in the field of clean energy and electric vehicles, but also laid a solid foundation for future cooperation between the two sides.

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