Hyundai Motor Group and LG Energy Solution completed the construction of an electric vehicle battery factory in Indonesia

Hyundai Motor Group announced that the electric vehicle battery factory jointly established with LG Energy Solution in Indonesia has been successfully completed, enabling Hyundai Motor Group to have a complete electric vehicle production system in Indonesia. This is the first electric vehicle battery factory in Indonesia, with an annual production capacity of 10GWh, which will directly support Hyundai Motor's vehicle factory in Indonesia. In order to further expand production capacity, LG Energy Solution and Hyundai Motor plan to build a second phase battery factory in Indonesia, with an estimated investment of US$2 billion to increase battery production capacity by another 20GWh. Hyundai Motor's vehicle factory in Indonesia plans to produce 50,000 Kona Electric models per year. These vehicles will directly benefit from the battery support provided by LG Energy Solution's power battery factory in Indonesia.