President Prabowo Subianto has instructed the Daya Anagata Nusantara Investment Management Agency (Danantara), to join forces in a joint venture with China’s Huayou and Contemporary Amperex Technology Limited (CATL) aimed at expanding the nation's footprint in EV battery manufacturing and address funding challenges in major green technology projects.
Rosan P. Roeslani, CEO of Danantara, emphasized the government's commitment to strengthening Indonesia’s strategic position in the EV battery sector. Speaking at a press conference at the Presidential Palace in Jakarta on Thursday, May 22, 2025. Rosan cited that Danantara’s involvement is expected to overcome recent financial obstacles.
“Danantara is stepping in to help with financing because we see the immense potential in this project − not only in terms of returns but also in job creation,” he said.
He added that Indonesia’s participation will cover the entire value chain of battery production, from mining to manufacturing.
“This project will operate as one comprehensive package − from upstream mining to battery output,” he cited.
Minister of Energy and Mineral Resources (ESDM), Bahlil Lahadalia, noted that the move is also a strategic effort to increase Indonesia’s equity share in these international collaborations.
“Our president has instructed us to aim for ownership stakes above 40 percent, ideally reaching up to 50 percent. Negotiations are ongoing, but we have already secured 51 percent ownership in upstream operations,” Bahlil said on Thursday, May 22, 2025.
The Titan Project, formerly led by LG Energy Solution (LGES), will now be spearheaded by Huayou in collaboration with Indonesian State-owned companies including PT Indonesia Battery Corporation (IBC), PT Aneka Tambang (Antam), PT Pertamina, and PT PLN. The consortium aims to drive forward a US$9.8 billion (Rp165.3 trillion) venture.
Although LGES is no longer part of the main EV battery consortium, the company has already invested US$1.2 billion in building a battery production facility in Karawang, West Java, with a 10 GWh capacity in its first phase.
The government aims to hold a groundbreaking ceremony for the Titan Project before August 2025.
Meanwhile, CATL's involvement in the Dragon Project is facilitated through its subsidiary, Ningbo Contemporary Brunp Lygend (CBL). Together with IBC, CBL will develop a complete EV battery supply chain, including a battery recycling facility for used EV and renewable energy storage system batteries.
CBL plans to construct its initial battery cell production facility in East Halmahera, with a second-phase expansion − including nickel sulfate processing, precursor and cathode production, and battery recycling − set for the North Kalimantan Industrial Zone. These facilities are slated to begin development in 2025.
The initiatives underscore Indonesia's strategic ambition to become a major hub in the global electric vehicle battery supply chain, leveraging its vast mineral resources and growing international partnerships.
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