Asian business / industry
By lens · 1 takes across the edition
Nikkei Asia · Japan · Huayou Cobalt signed a Hyundai MoU, joined a 20 GWh Indonesia battery JV, and partnered with tozero on European recycling
Reports the Indonesia Battery Industry (IBI) joint venture, in which Huayou Cobalt participates alongside CATL, GEM, and Indonesian state mining companies, reaching a 20 GWh annual capacity milestone in early 2026. The JV integrates HPAL nickel-cobalt feedstock from Indonesian operations with cell manufacturing for both domestic EV adoption and export to Korea and Japan. Notes Huayou's EVE Energy 10-year cathode supply agreement as a separate downstream integration.
“The Indonesia Battery Industry JV reached 20 GWh capacity in 2026, integrating HPAL nickel-cobalt with cell manufacturing for both Indonesian EVs and Korean-Japanese export markets.”