Our sincere congratulations to our client, CBL International Development Pte Ltd (CBL), the world’s largest electric vehicle battery company, for entering its strategic cooperation with PT Industri Baterai Indonesia through the signing of the Interim Agreement and establishment of a joint venture dedicated to battery cell manufacturing. This collaboration marks a pivotal moment in Indonesia’s drive to become a global electric vehicle battery supply chain leader.

Representing CBL in this groundbreaking venture, our Managing Partner, Pramudya A. Oktavinanda, and the head of Projects and Infra Practice Group, Kirana Sastrawijaya, assisted by Senior Associate Ajeng Ayuningtyas, worked relentlessly to navigate the tight deadlines, ensuring seamless execution of this strategic deal. With Indonesia’s substantial nickel reserves, this collaboration is expected to strengthen Indonesia’s position in the global electric vehicle battery supply chain and aims to create significant economic impacts, including enhancing the capacity of Indonesia’s renewable energy industry.

The signing ceremony, witnessed by the Vice Minister of State-Owned Enterprises (Vice MSOE), Mr. Kartika Wirjoatmodjo, reaffirmed Indonesia’s ambition to solidify its position in the global battery market. The Vice MSOE further expressed optimism that this joint venture will strengthen Indonesia’s role in the electric vehicle ecosystem, enhancing the country’s nickel downstream program and accelerating the development of an integrated battery industry.

This partnership will also play a crucial role in supporting Indonesia’s commitment to achieving Net Zero Emissions by 2060. We are honored to have contributed to this transformative milestone and remain committed to supporting further ESG driven innovations in this country!

Congratulations once again to all parties involved!

#WeGetThingsDone

FEATURED LAWYERS

Pramudya A. Oktavinanda
Managing Partner

pramoctavy@umbra.law

Kirana D. Sastrawijaya
Senior Partner

kirana@umbra.law