In his speech, Jokowi highlighted that the first phase of the factory's development had been completed within only 10 months since the signing of a cooperation agreement in Beijing, China, in October last year.
"I have repeatedly said that fast-moving countries will prevail over slower ones, and we have now emerged among the former category," he remarked during the inauguration ceremony followed online from Jakarta.
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The head of state also praised PT Indonesia BTR New Energy Material for its potential capacity to produce as many as 80 thousand tons of battery anodes per year in the factory.
The president expressed optimism that the completion of the second phase of the factory's development would double the company's productivity, which, in turn, is expected to enable Indonesia to supply batteries for approximately three million electric cars every year.
It is reported that the first phase of the factory's development was carried out with an investment of US$478 million. Once the next phase is completed, the factory is projected to lead Indonesia to become the second-largest producer of lithium-ion batteries.
Jokowi acknowledged that Indonesia is still importing natural graphite from Africa to produce anodes. However, the country is relying on a refinery managed by its own oil and gas company, Pertamina, in Riau to supply artificial graphite.
"As for lithium, we are importing it from Australia. Indonesia can independently supply other requisite materials, such as cobalt, manganese, and nickel, though. By processing all the materials into products of higher value, Indonesia will be a prominent player in the global supply chain," he noted.
