Hyundai is still thinking about EVs in Indonesia and maybe will tempt LG Chem to invest.
The selection of Indonesia is not accidental, as Hyundai would like to start EV production in the country, although there is no info about volume or investment size.
For Hyundai, it would be the first such battery joint venture, which are becoming more and more popular among manufacturers around the world to secure lithium-ion cells supplies.
The main problem with the Indonesian market is that consumer purchasing power is still too low to introduce electric cars (usually significantly more expensive up front). Additionally, there is no charging infrastructure yet.
In other words, the joint venture is considered as a mid- or long-term plan rather than a near-term.
Anyway, Hyundai/Kia is in close partnership with LG Chem, using LG Chem's batteries in various models and most recently even seeking for new business opportunities through the EV & Battery Challenge (EVBC).