Shulou(Shulou.com)11/24 Report--

March 31, according to foreign media reports, on Thursday local time, Ford announced an agreement with PT Vale Indonesia Tbk, a subsidiary of Brazilian mining giant Vale SA, and China's Zhejiang Huayou Cobalt Co., Ltd. to spend $4.5 billion (CTOnews.com Note: about 30.96 billion yuan) to build a joint venture nickel processing plant in Indonesia to ensure the supply of nickel for its electric car batteries.

According to foreign media reports, the nickel processing plant started construction in November last year and is expected to start commercial operation in 2026.

The investment, which is understood to be Ford's first investment in Indonesia, highlights the growing demand from carmakers for raw materials used to produce electric car batteries. It is not clear how much Ford has invested in the project.

Nickel is a key material for the manufacture of electric vehicle batteries, which can make the battery energy-intensive and make the car run farther after a single charge. The supply of nickel is only likely to become increasingly important as carmakers seek to get rid of the more controversial rare earths.

In August 2022, Ford signed a nickel supply agreement with Australian mining company BHP Group. Under the agreement, Western Nickel, a subsidiary of BHP Billiton in Western Australia, will supply nickel to Ford.

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