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Hyundai and LG partner to invest $1.1 billion in Indonesian battery plant

Hyundai battery

Hyundai Motor Group and LG Energy Solution have announced a Memorandum of Understanding (MoU) with the Government of Indonesia to manufacture BEV batteries in the country through a new joint venture (JV). As part of the JV, Hyundai and LG will invest a total of $1.1 billion in the construction of a battery plant in Karawang, near the country’s capital of Jakarta.

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