The government has decided to name PT Indonesia Battery Corporation (IBC) as Investment Holding for the New Energy Materials sector, a move aimed at optimizing the downstreaming of mineral resources into battery raw materials to support the national electric vehicle (EV) industry. 

IBC President Director, Toto Nugroho, in a hearing with Energy and Mineral Resources Commission XII of the House of Representatives (DPR) on Monday, February 17, 2025, said that the change in IBC's status from a project development company to an investment holding has been approved through the latest Shareholders Agreement (PPS). 

This change was made so that IBC can maximize the added value of its assets, especially those under MIND ID. 

"The Ministry of State-owned Enterprises has decided that we will become an investment holding to develop and continue the downstreaming of mineral resources into battery raw materials," Toto said. 

The new structure of IBC as a New Energy Materials Holding is divided into two sub-holdings, namely Battery Material Sub-Holding and IBC Downstream "OpCo" Sub-Holding. 

The government has decided to name PT Indonesia Battery Corporation (IBC) as Investment Holding for the New Energy Materials sector, a move aimed at optimizing the downstreaming of mineral resources into battery raw materials to support the national electric vehicle (EV) industry. 

IBC President Director, Toto Nugroho, in a hearing with Energy and Mineral Resources Commission XII of the House of Representatives (DPR) on Monday, February 17, 2025, said that the change in IBC's status from a project development company to an investment holding has been approved through the latest Shareholders Agreement (PPS). 

This change was made so that IBC can maximize the added value of its assets, especially those under MIND ID. 

"The Ministry of State-owned Enterprises has decided that we will become an investment holding to develop and continue the downstreaming of mineral resources into battery raw materials," Toto said. 

The new structure of IBC as a New Energy Materials Holding is divided into two sub-holdings, namely Battery Material Sub-Holding and IBC Downstream "OpCo" Sub-Holding. 

Battery Material Sub-Holding includes JV Mining, JV Smelting-Refinery, JV Precursor-Cathode, JV Recycling, and JC Cell. 

Meanwhile, IBC Downstream "OpCo" Sub-Holding houses JV Cell, 2WEV (GESITS), 2WEV Battery Cell-to-Pack, 2WEV BaaS (Swap Battery, Cabinet, Software), and other sectors. 

With this decision, IBC is expected to be able to optimize the production of battery components and critical raw materials that support the electric vehicle ecosystem.

Battery Material Sub-Holding includes JV Mining, JV Smelting-Refinery, JV Precursor-Cathode, JV Recycling, and JC Cell. 

Meanwhile, IBC Downstream "OpCo" Sub-Holding houses JV Cell, 2WEV (GESITS), 2WEV Battery Cell-to-Pack, 2WEV BaaS (Swap Battery, Cabinet, Software), and other sectors. 

With this decision, IBC is expected to be able to optimize the production of battery components and critical raw materials that support the electric vehicle ecosystem.