Hyundai Motor Secures Aluminum Supply Source in Indonesia... Agreement with Local Company

(From left) Chung Eui-sun, Chairman of Hyundai Motor Group; Jang Jae-hoon, President of Hyundai Motor Company; Garibaldi Tohir, President Commissioner of Adaro Minerals; Edwin Suryajaya, President Commissioner of Adaro Energy, posing for a commemorative photo.

[Asia Economy Reporter Choi Dae-yeol] Hyundai Motor Company announced on the 13th that it has signed a Memorandum of Understanding (MOU) with Indonesia's Adaro Minerals regarding aluminum supply. Adaro Minerals is a leading local mineral resource production company that recently decided to build a new smelter for aluminum production.

Chung Eui-sun, Chairman of Hyundai Motor Group, Jang Jae-hoon, President of Hyundai Motor Company, Edwin Suryajaya, President Commissioner of Adaro Group, Garibaldi Thohir, CEO of Adaro Minerals, and Christian Ariano Rahmat, President of Adaro Energy, met at the Nusa Dua Convention Center during the B20 Summit Indonesia to hold the signing ceremony.

Aluminum demand has been increasing recently with the rise in electric vehicle adoption. Hyundai Motor explained that the agreement was made to resolve supply uncertainties caused by external variables. Adaro will closely cooperate with Hyundai Motor on specifications and processes during the aluminum supply, and will also supply aluminum to Hyundai Motor Group's factories worldwide.

Hyundai Motor will have priority in receiving low-carbon aluminum in the future. This refers to products that reduce carbon dioxide emissions by utilizing renewable energy in the aluminum production and processing stages. They also agreed to explore additional cooperation plans in materials and eco-friendly sectors.

Hyundai Motor has built a complete vehicle factory in Indonesia, which has been operational since early this year, and is also constructing a battery cell joint factory. The company stated that it will continue to seek eco-friendly collaborations with local companies and others.

This content was produced with the assistance of AI translation services.