#Indonesia's and South Korea's US$9.1 billion #electriccar battery joint venture project has gotten a boost after the two countries signed a comprehensive investment and trade deal.
Indonesia has set a goal to ban the sales of internal combustion engine cars by 2040, setting a similar deadline to South Korea, Singapore, and China.
Apart from the environmental goal, Indonesia saw the electric car and electric battery industry as a strategic sector to accelerate its recovery post-pandemic. The President Joko Widodo administration was adamant about using Indonesia's enormous #nickel reserve as leverage to attract foreign #investment and transform Indonesia into a key global #battery supplier.
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Indonesia has set a goal to ban the sales of internal combustion engine cars by 2040, setting a similar deadline to South Korea, Singapore, and China.
Apart from the environmental goal, Indonesia saw the electric car and electric battery industry as a strategic sector to accelerate its recovery post-pandemic. The President Joko Widodo administration was adamant about using Indonesia's enormous #nickel reserve as leverage to attract foreign #investment and transform Indonesia into a key global #battery supplier.
Access @jakartaglobe article via our Twitter post.
#StaySafe #StayHealthy
View on Instagram