Category: Industries

A step closer to fully integrated EV Industry in Indonesia

After years of intense lobby, PT HKML Baterai Indonesia, a joint venture between Hyundai Motor and LG Energy Solution, has finally kicked off construction of an electric vehicle (EV) battery in Karawang, West Java province with estimated investment of US$1.1 billion. The importance of the event can be seen in the attendance of President Joko ‘Jokowi’ Widodo, chairman of Hyundai Motor, and CEO of LG Energy Solution in the ground breaking ceremony.

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Commodities & Metal Processing support Indonesian export

Indonesia booked trade surplus of US$4.74 billion in August 2021, a new record, thanks to 64% jump in export, while import grew 55.3% year-on-year. The country, accordingly, generated trade surplus of US$19.17 billion in the first eight months, the highest in Indonesian history. Overall, export expanded by 37.8% to US$142 billion in the period, while import increased by 33.4% to US$122.8 billion. 

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Infrastructure Journal

President Joko ‘Jokowi’ Widodo has on Tuesday (Aug 31) inaugurated Kuningan Dam in West Java province with water storage capacity of 25.9 million m3. It will supply 3,000 hectares of paddy fields in three regencies of Kuningan and Cirebon in West Java and Brebes in Central Java. This one of 65 dams built by Jokowi in the period of 2014-2019. It was started by SBY administration in 2013, but construction delayed until 2017 due to difficulties in land acquisition.

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EVolution at faster pace (3)

Total car sales in France, the second largest auto market in Europe, fell sharply by 35% year-on-year to 115,713 units last month, but electric vehicle (EV) increased by 9.5% y-o-y to 19,096 units to make a market share of 16.5%. Hyundai, which builds EV factory in Indonesia, posted 13% decline y-o-y for all of its cars but plug-in enjoyed 39% growth in July with market share of 8.5%.

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External trade & Commodity windfalls

Indonesia booked trade surplus of US$2.59 billion in July 2021. Export revenues increased by 29.3% year-on-year to US$17.7 billion, but declined slightly by 4.5% from the previous month. Import expanded 44% y-o-y, but dropped 12.2% from June to reflect stricter movement restrictions imposed since early July to contain the Covid-19 pandemic. 

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Improved infrastructure outlook

Construction of four multifunction dams in some provinces have been completed, strengthening clean and irrigation water supply plus flooding control. The completed dams are Way Sekampung (Pringsewu Regency, Lampung province), Bendo (Ponorogo, East Java), Paselloreng (Wajo Regency, South Sulawesi), and Kuningan (Kuningan Regency, West Java). 

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EVolution at faster pace (2)

LME nickel returned to US$19,650 per ton last Friday (Aug 13), thanks to faster pace of electric vehicle (EV) disruption in Europe and China, two of the largest auto markets. US President Joe Biden’s target to have 50% sales of battery EV and plug-in-hybrid by 2030 also supported the commodity.

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Connectivity outlook improved further

Connectivity of areas in the Greater Jakarta has improved further with operation of Section I of Cibitung-Cilincing toll road, which is part of the Jakarta Outer Ring Road-2 (JORR-2), over the weekend. Cibitung-Cilincing is key component of JORR-2 to connect industrial areas in Banten and West Java provinces with Tanjung Priok, the largest port in the country.

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