Indonesia plans $2B EV fund with CATL, CMB International

Hyundai Ioniq 5 EV on the production line at Hyundai Motor's plant in Cikarang, Indonesia — An Ioniq 5 EV on the production line at Hyundai Motor's plant in Cikarang, Indonesia, on Aug. 18, 2022. (BLOOMBERG)

By:

Reuters

November 14, 2022 03:36 PM

JAKARTA -- The Indonesia Investment Authority, the country's sovereign wealth fund, will set up a green electric vehicle fund of at least $2 billion with Chinese battery maker CATL and CMB International, the fund's CEO said on Monday.

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