It has, as envisioned, allowed Indonesia to speed up the process of attracting more players onshore to develop an integrated EV supply chain, which in turn would turn the country into an EV battery producer and exporter. Today, both the world's largest and second-largest EV battery maker, have separate agreements to develop the country's battery mineral mining, processing, refining, manufacturing and downstream EV industry. Most recently, South Korea's LG Energy Solutions, along with a number of Korean companies have agreed to work together with a few Indonesian companies on an EV battery mine-to-manufacturing project. The agreement between the world's second-biggest battery maker LG Energy and local mining company PT Aneka Tamban (Antam) as well as Indonesia Battery Corporation were signed last week, with an earmarked investment of approximately US$ 9 billion.