China Tightens Grip on Indonesia’s EV Battery Sector as LG Bows Out
China is stepping up its game in Indonesia’s electric vehicle (EV) battery industry after a major exit by South Korea’s LG-led consortium. LG and its partners have pulled out of a massive US$7.7 billion project meant to build a full EV battery supply chain in Indonesia — giving China’s Zhejiang Huayou Cobalt a clear path to take charge. LG Energy …