The corporation will involve four state enterprises, including the company specializing in aluminium smelting PT Indonesia Asahan Aluminium or MIND ID, mining firm PT Aneka Tambang, oil and gas giant PT Pertamina, and electricity company PT Perusahaan Listrik Negara (PLN). The companies will each own 25% on IBC’s shares.
IBC plans to partner with other companies, most notably China’s CATL and South Korea’s LG Chem, the world’s top two EV battery producers, to establish several joint ventures to create an end-to-end EV battery supply chain in Indonesia.
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