Tsingshan Unit Plans Indonesian Battery Plant As Trade Frictions Mount

Tsingshan Holding Group Co, a top nickel producer, aims to build a battery plant in Indonesia through its unit BATTERO Energy Co. This move is part of Chinese investments in Southeast Asia to leverage the region’s commodities production. The plant could start operating next year and aims to get ahead of competitors in the battery manufacturing industry.

Key points:

  • Tsingshan Holding Group Co plans to establish a battery plant in Indonesia through its unit BATTERO Energy Co to step into the lucrative battery manufacturing sector.
  • The company aims to start operations in Indonesia as early as next year, positioning itself ahead of rivals in expanding battery production capacity.
  • The move to set up the plant in Indonesia is also seen as a strategic decision to mitigate risks related to trade frictions that might disrupt exports from China.
  • Indonesia, with abundant reserves of raw materials, is becoming an attractive location for Chinese investments in the electric vehicle sector, aiming to reduce reliance on China.
  • While the move presents opportunities, there are also challenges such as environmental concerns due to the nation’s reliance on coal for power supply and potential policy uncertainties.

Source: https://www.indonesiaminer.com/news/detail/2024-04-02113706-tsingshan-unit-plans-indonesian-battery-plant-as-trade-frictions-mount

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