MoU Signed by Indonesia and Australia to Boost EV Collaboration
A Memorandum of Understanding (MoU) was signed on 23 November 2023 to boost EV collaboration between Indonesia and Australia. The MoU aims to unlock opportunities within the global EV supply chain.
The MoU was signed between the Australian Minister for Industry and Science and the Indonesian ad Interim Coordinating Minister for Maritime Affairs and Investment. The MoU is not just to boost EV collaboration, but to ensure that there are more diplomatic endeavours between the two nations. It is a tangible outcome of the prior AU$200 million Australia-Indonesia Climate and Infrastructure Partnership back in 2022.
Key Areas to Boost EV Collaboration
The MoU will focus on several key areas to achieve its goals. Those key areas are to minimise reliance and promote diversification, mapping out the EV supply chain, and develop cooperation on new manufacturing and processing methods.
Other key focus areas include generating more support for Indonesia’s mineral supply chains, expanding investor base, mitigating challenges, and enhancing Environmental, Social and Governance (ESG)’s rating.
What Does This Mean for Indonesia’s EV Sector?
With the new MoU, Indonesia is looking to rely less on resources and investments from China. Meanwhile, Australia is hoping to forge its presence in battery manufacturing, and this happens to align with Indonesia’s goals.
The Start Of Your Next Venture
The signing of the MoU between Indonesia and Australia to boost EV collaboration is a pivotal moment for the EV industry and Indonesia’s economy. For the investor looking for their next venture, there’s no better time than now to launch your next opportunity.
Connect with us to learn more about our Indonesia Company Incorporation Services today.
