RFsemi Signs Business Agreement to Supply LFP Batteries to Indonesian Government

RF Semi announced on the 18th that it has signed a Memorandum of Understanding (MOU) with domestic company S and the Indonesian government to supply LFP (Lithium Iron Phosphate) batteries.

Company S is participating in the 'Motorcycle Electrification Plan' led by the Indonesian government. Through this, RF Semi will promote the supply of LFP batteries.

RF Semi plans to supply a total of 10 million cells worth 40 billion KRW as the initial volume of LFP batteries. This corresponds to 145,000 electric motorcycles (E-scooters), and the supply volume is expected to increase to a total of 200 million cells (equivalent to 3 million units) worth 800 billion KRW in the future.

An RF Semi official stated, “Most lithium-ion battery suppliers are focused on the US and Europe, so Southeast Asian countries are relatively neglected in terms of battery supply,” adding, “This MOU is meaningful as it goes beyond simple battery supply and establishes a Southeast Asian network with Indonesia as a forward base.”

RF Semi previously signed LFP battery supply contracts with companies in Myanmar and Singapore in May and June, respectively. Through supplying its LFP batteries to Indonesia this time, the company plans to actively target the Southeast Asian market.

Meanwhile, according to the Indonesian Statistics Agency, as of 2020, there were 111 million registered motorcycles, with a motorcycle penetration rate of about 85% among all households. Due to recent global environmental pollution regulations, the eco-friendly electric motorcycle market led by the Indonesian government is expected to rapidly expand.

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