A technician installs a motor controller as he converts a conventional car into an electric vehicle (EV) in Lengkong, South Tangerang, on Feb. 3, 2023. (Antara Photo//Rivan Awal Lingga)

JakartaGlobe-Mar 28

Some European companies within the automotive sector have shown interest in investing in Indonesia after the Southeast Asian nation became a partner country to the 2021 Hannover Messe industrial technology fair, according to the Investment Ministry. Nurul Ichwan, the ministry’s deputy for investment promotion, refused to disclose the names of the said companies, although he hinted that the investment could be related to Indonesia’s dream of building an electric vehicle (EV) industry. According to Nurul, there are more than three European companies that have approached Indonesia for possible cooperation. “These companies are mostly coming from the automotive sector. When we talk of EVs, Indonesia has one of the world’s largest nickel potentials. That means the world cannot move forward without Indonesia,” Nurul said. Indonesia has the world’s largest nickel reserves which total 21 million metric tons, according to the US Geological Survey. In 2022, Indonesia’s nickel production reached 1.6 million metric tons. Nickel is a mainstay for batteries. Indonesia is currently developing its downstream industry, in which it focuses on processing its unprocessed ores for higher added value. Read more at: https://jakartaglobe.id/business/govt-hints-at-european-ev-investment-in-indonesia