Core Insights - Chinese battery manufacturers dominate the global lithium battery market, producing 80% of the world's batteries [1] - In 2024, Chinese battery companies are expected to invest over $12 billion in Southeast Asia, with significant investments already made in July [1] - Indonesia, holding 52% of the world's nickel reserves, is a key player in the supply chain for lithium batteries, particularly for its high energy density and storage capacity [1][2] Group 1 - The investment trend of Chinese lithium battery companies in Southeast Asia is driven by the availability of nickel resources in Indonesia [2] - The Weda Bay Industrial Park, a joint investment by Chinese firms, aims to create a complete industrial chain from mining to battery material production, with a total investment exceeding $11 billion [2] - The electric vehicle market in Southeast Asia is growing rapidly, with sales reaching 204,000 units in 2023 and a projected compound annual growth rate of 22% from 2024 to 2029 [2] Group 2 - Despite the rich nickel and cobalt resources, Indonesia still relies on imports for some key materials, such as lithium from Australia and cathode materials from China [2] - Indonesia is poised to become a manufacturing hub for power batteries in Southeast Asia, supplying electric vehicle manufacturers in Thailand, Indonesia, and Malaysia [2]