Bisnis.com, JAKARTA — Energy and Mineral Resources Minister Bahlil Lahadalia has confirmed that China’s Huyaou Holding will step in to take over the US$9.8 billion electric vehicle (EV) battery project after South Korea’s LG Energy Solution withdrew from the investment.
Huayou was previously part of LG’s consortium in the project, and according to the minister, the project’s planning and roadmap will remain largely unchanged, encompassing the entire supply chain from mining to production, while adjustments will only be limited to changes in investment partners within the joint venture (JV).
