Hyundai + LG launch first EV battery plant in Indonesia: Hyundai Motor Group and LG Energy Solution (LGES) opened Indonesia’s first — and Southeast Asia’s largest — electric vehicle battery cell production plant with a capacity of 10 GWh, Reuters reports. The plant will work in tandem with Hyundai’s auto factory to produce 50k units of Kona Electric per year and can power over 150k EVs. Hyundai and LGES pledged to invest up to USD 9.8 bn in the country’s EV supply chain to benefit from the abundance of nickel and copper including USD 1.1 bn directed to the Indonesian plant.

OTHER STORIES WORTH KNOWING ABOUT THIS MORNING-

  • American Airlines to buy hydrogen engines from ZeroAvia: American Airlines has signed a conditional purchase agreement with hydrogen-electric aircraft developer ZeroAvia for 100 hydrogen-electric engines. American Airlines also boosted its investment in ZeroAvia by participating in the company’s Series C funding round. (Statement)
  • China launches first SAF center: The Civil Aviation Authority of China has launched the country’s first technical center for sustainable aviation fuel (SAF). The center will focus on product development research and setting up policy and standards for quality control. China does not yet produce SAF commercially but has received over USD 1 bn in investments for when the country’s SAF policy is unveiled later this year. (Reuters)
Tags: