Investor Presentaiton
| Manufacturing Industry
Indonesian electric vehicle industry development roadmap progress
Status
2020
2021
2022
2023
MHP nickel-cobalt refinery of EV
battery upstream sector leads the
charge in achieving the government's
electric vehicle industry roadmap
• Indonesia's growing nickel production sector is well-positioned to
meet the demand for nickel-based batteries for EVs, driven by the
Indonesian government's ban on nickel ore exports of ore with Ni
content <1.7% (MEMR Regulation 11/2019). This has encouraged
industries to invest in hydrometallurgical nickel refining facilities
in the country, with at least 2 operating High Pressure Acid
Leach (HPAL) nickel refineries and 5 more planned. The current
HPAL facilities require 9.14 megaton/year of saprolite ore. Upon
completion of the planned facilities, the total saprolite demand
could reach 50.6 megaton per year, and the demand for limonite
(<1.5% Ni) could reach 1.2 megaton per year.
• The existing HPAL facilities have the capacity to produce 386
kiloton/year of mixed hydroxide product (MHP). Upon completion
of the constructed HPAL facilities, total MHP production is expected
to increase by 657 kiloton/year, NiOH by 316 kiloton/year, which
will be continued into 136 kiloton/year of nickel sulfate and 19.5
kiloton/year of cobalt sulfate.
• One of the refining industries is utilizing a proprietary technology
and method, namely the Step Temperature Acid Leaching (STAL)
modular reactor. The plant is planned to commence operations
in Q2 2025, utilizing limonite ore with around 1.5% Ni content to
produce MHP. The technology developer, a subsidiary company, is
also exploring the potential of acid leaching and NCM technology
to further process the MHP into NCM precursors.
MHP Production (HPAL Smelter)
NiSO4 & COSO4
LIB & NiMH Cylinder Type Cell
BMS (Assembly)
Battery Pack Assembly
Passive
BMS
(On track) 387 kiloton MHP
production (current), 55 kton MHP
in Q1 2025, 7.3 kiloton MHP in Q1
202 *also 647 kiloton MHP (under
construction) and 174 kton MHP
(planned) with N/A timeline
(Delay) 16 kiloton in NiSO4 Q3
2025 (Dragon) *also 136 kiloton
NiSO4 & 19.5 kiloton CoSO4 (under
construction) with N/A timeline
(Delay) 15 GWh (NMC) in Q1 2026,
*~3 MWh (LFP) have produced, N/A
GWh will be groundbreaking in Q1
2023
N/A for commercial
*prototypes by academia
(On-track) Some EV manufacturers.
assemble the battery cells
LIB & NiMH Recycling
Non-permanent magnet
motor eff 85%
(Delay) Planned in Q3 2025 for 20
kiloton LiB *ready in lab scale
N/A
Permanent
magnet
motor eff
85%
>95% inverter efficiency
(high power density)
Indonesia Electric Vehicle Outlook 2023
(On track) BLDC 5kW for E2W since
2018, 0.8 kW for E3W since 2021,
PMSM 3 kW, 4 kW, 20kW, 40 kW
(rated) by local SME
N/A
AC Level I and Level II Charger &
DC Fast Charger
(On track) AC 7 kW & 22 kW (Type
2), DC fast 50 kW and ultrafast 150
kW (ChAdeMO, CCS2, include Type 2
AC) since 2019
Sources: Mol Regulation 6/2022, APNI (2022), IESR analysis
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