China’s Huayou Takes Over $9.8B Indonesia EV Battery Project After LG Exit

China’s Zhejiang Huayou Cobalt is replacing South Korea’s LG Energy Solution in Indonesia’s $9.8 billion electric vehicle (EV) battery supply chain project
A worker moving battery cells to be packed for shipment at the battery manufacturing plant at PT HLI Green Power, Indonesia's first electric vehicle battery cell manufacturer, in Karawang, West Java. Yasuyoshi CHIBA / AFP

China’s Zhejiang Huayou Cobalt is replacing South Korea’s LG Energy Solution in Indonesia’s $9.8 billion electric vehicle (EV) battery supply chain project, Indonesian Energy and Mineral Resources Minister Bahlil Lahadalia confirmed Wednesday, ensuring the project “continues as planned” after the reshuffle in investors.

The reshuffle underscores China’s expanding dominance in the global EV supply chain, while Indonesia strengthens its role as a key battery metals hub amid growing U.S.-China strategic competition.

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by Edwin Shri Bimo

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