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

CTOnews.com July 10 news, according to BusinessKorea reported that China and South Korea will compete in the Southeast Asian battery industry with high growth potential. South Korean companies are investing heavily in Indonesia, Thailand, Malaysia and Vietnam, four of Southeast Asia's largest electric vehicle markets, while China is using Southeast Asia as its new overseas base after Europe.

▲ Pixabay industry insiders said that in the automotive field, Southeast Asia, together with India and Australia, constitutes a key region in the Asia-Pacific market, ranking fourth in the world in terms of market size, second only to the United States, China and EMEA (Europe, Middle East and Africa). Indonesia, in particular, which has the world's largest nickel reserves, one of the key minerals for batteries, is building electric vehicle production facilities, which has led battery manufacturers to invest in the country.

LG Energy Solution dominates the South Korean business with a battery joint venture with Hyundai Motor in Indonesia. The 10GWh battery plant jointly built by the two parties will be completed by the end of 2023 and mass production of batteries will begin next year, with future capacity expanding to 30GWh.

Samsung SDI will continue to invest in its Malaysia plant, which produces small batteries for power tools and household appliances. Samsung SDI will also build a second factory in Seremban, Malaysia, to increase the production of cylindrical batteries for electric vehicles.

On the Chinese side, CTOnews.com previously reported that Ningde Times had agreed to establish a mineral, material and battery industry chain project with an Indonesian state-owned company. Recently, Ningde Times has also discussed the possibility of establishing a battery factory with Thailand. BYD is also building a battery factory in Thailand, with the goal of starting operations next year.

An industry insider said: "In a country like Indonesia, where LG consortium and Ningde era compete, the whole industry chain lacks technical support from mineral mining and smelting to materials, batteries and electric vehicles, so many enterprises try to enter these markets ahead of time to maximize profits. "

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