Based on the road map, Indonesia's Ministry of Industry continues to strive to accelerate the development of electric-based vehicles and ecosystems in Indonesia. Most recent development in Indonesia, that in 2021, LG Chemical, a company from South Korea sign USD 8.7 billion investment agreement with Indonesia government to develop electric battery industry in Indonesia. With this development, we feel that this is the right time to start exploring this business opportunity and build our Finnish companies ecosystem to be integrated in early phase with local stakeholders in Indonesia.
The phase of transition to EV is also spured by the growing initiatives in biofuel space which led by Pertamina, a state own company in oil and gas sector. Recently revealed, Pertamina together with Longitude Engineering supporting the Asian Development Bank carried out a feasibility study to develop a roadmap for the integration of low carbon fuels into the domestic shipping industry.
Finland has expertise throughout the battery value chain, from the mining industry and processing of raw materials to technologies and services related to the manufacture and use of batteries, as well as charging technologies and recycling. Finnish companies can offer competitive concepts and knowhow across the whole battery production value chain, with world-class expertise in chemistry, processing, engineering and energy.
Within this business opportunity, we aim to connect Finnish companies to key stakeholders and end customers in Indonesia EV space. One promising tool for engaging Finnish companies is the upcoming Team Finland ministerial-led business delegation that plans to visit Indonesia in May 21st - May 25th, 2022.
This event can potentially trigger the more intense cooperation of Finnish companies with local stakeholders related to this business opportunity.
For more information and guidance please contact Harry Dhavilla (harry.dhavilla (at) businessfinland.fi