Hyundai Motor Company and PT Adaro Minerals Indonesia, Tbk. Signing of a memorandum of understanding to secure aluminum supply in the face of growing demand for automotive manufacturing


  • Hyundai Motor and PT Adaro Minerals Indonesia, Tbk. (AMI) to also establish a comprehensive cooperative system regarding the production and supply of aluminum
  • Based on the cooperation in the production of cars, battery cells and aluminum in IndonesiaHyundai Motor Company will continue to find areas of cooperation to ensure the future leadership of green automobiles in Indonesia

Seoul, South Korea, November 13, 2022 /PRNewswire/ — Hyundai Motor Company and PT Adaro Minerals Indonesia, Tbk. (AMI) today signed a Memorandum of Understanding (MoU) to secure a stable supply of aluminum in the face of growing aluminum demand for automotive manufacturing. This cooperation also aims to establish a global cooperative system regarding the production and supply of aluminum by AMI through its subsidiary PT Kalimantan Aluminum Industry (KAI).

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

Aluminum in Indonesiarich in natural resources and energy, is considered to have future competitiveness. indonesia green aluminum is classified as low carbon aluminum using hydroelectric power generation, which is an environmentally friendly source of energy and should provide aluminum that meets the carbon neutralization policy of HMC amid growing demand for aluminum from global automakers. In addition, supply and demand have become unstable due to unpredictable market conditions which have resulted in higher energy prices for aluminum production.

“Hyundai Motor Company began operating a manufacturing facility in Indonesia and also actively cooperates with Indonesia in various fields, where it can exert synergy in the future automotive industry, such as investing in battery cell manufacturing joint ventures,” said Youngtack Lee, Senior Vice President and Head of Headquarters of Hyundai Motor Asia Pacific. “This cooperation with the aluminum smelter is also expected to strengthen the relationship between Hyundai Motor Company and Indonesia with stronger synergy.”

The cooperation items in this MoU include the production and supply of aluminum produced by KAI, the right of Hyundai Motor to purchase aluminum produced by KAI at an early stage, and then the first right of negotiation of ‘purchase low carbon aluminum produced by KAI in the future ( with undetermined picking volume in the range of 50,000-100,000 TPA).

After information about Hyundai Motor and its products can be found at:

http://worldwide.hyundai.com

For more information on Adaro Minerals Indonesia, visit: http://adarominerals.id.

SOURCEHyundai Motor Company

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