Hyundai Motor and PT Adaro Minerals Indonesia, Tbk. Signs MoU

The MoU signing ceremony took place during the B20 Summit at Bali Nusa Dua Convention Center in Indonesia, with Jaehoon Chang, President and CEO of Hyundai Motor Company and Garibaldi Thohir, President Commissioner of PT Adaro Minerals Indonesia, Tbk., participating. 

Aluminum in Indonesia, which is rich in natural resources and energy, is considered to have future competitiveness. 

Indonesia's green aluminum is classified as low-carbon aluminum using hydroelectric power generation, which is an eco-friendly power source and is expected to supply aluminum that meets HMC's carbon neutralization policy amid the growing demand for aluminum in global automakers.

In addition, supply and demand became unstable due to unpredictable situational variables which led to an increase in energy prices for aluminum production.

"Hyundai Motor Company has started operating a manufacturing plant in Indonesia and is also actively cooperating with Indonesia in various areas, where it can exert synergy in the future automobile industry, such as investing in battery cell manufacturing joint ventures," said Youngtack Lee, Senior Vice President and Head of Hyundai Motor Asia Pacific Headquarter. "This cooperation with the aluminum smelter is also expected to strengthen the relationship between Hyundai Motor Company and Indonesia with stronger synergy."