Indonesia’s sovereign fund Danantara will participate in a $8 billion electric vehicle battery project in which China’s Zhejiang Huayou Cobalt will serve as a strategic investor, the energy minister said on Thursday.
Indonesia’s President Prabowo Subianto has agreed on Huayou replacing South Korea’s LG Energy Solution as an investor in the project, Danantara chief Rosan Roeslani said.
Reuters
