Ford, Volkswagen, and Vale team up for Indonesia's EV battery ecosystem.

Volkswagen, Ford, Chinese battery minerals producer Zhejiang Huayou Cobalt, French miner Eramet, and local Indonesian companies Merdeka Gold Copper and Kalla Group are partnering to build an EV battery ecosystem in Indonesia, which has one of the largest nickel reserves in the world. The country aims to become an EV battery producer and exporter, with a goal to make batteries with a capacity of 140 GWh by 2030. Automakers are courting Indonesia for its raw material supply for EV batteries, and the country is expected to propose a limited free trade agreement for specific battery-related materials shipped to the United States.