Hyundai partners with Indonesia firm for stable aluminum supply
Nov 13, 2022 (Gmt+09:00)
Hyundai Motor Co., South Korea’s top automaker, joined hands with an Indonesian miner to secure a stable aluminum supply as demand for the raw materials is expected to increase on the rapid growth in electric vehicles.
Hyundai and PT Adaro Minerals Indonesia on Sunday signed a memorandum of understanding for cooperation. Hyundai said they will establish a comprehensive cooperative system regarding the production and supply of aluminum by the Indonesian company through its subsidiary PT Kalimantan Aluminium Industry.
Both parties are also in talks for Hyundai’s priority to procure low-carbon aluminum that the Indonesian partner will produce. That will help Hyundai to reduce carbon emissions.
Hyundai plans to expand cooperation with Indonesian companies, starting from the collaboration with Adaro Minerals.
“We have actively been cooperating with Indonesian companies for the car plant there and the start of the construction of a joint-battery factory,” a Hyundai official. “We will strengthen partnerships with Indonesian companies in the future.”