Operated by PT HKML Battery Indonesia, the factory is the first in Indonesia and in Southeast Asia.
"The construction of this factory is a manifestation of the government's seriousness in downstreaming the industry," Jokowi said here Wednesday.
Jokowi believes that the existence of the electric vehicle battery factory will increase the attractiveness of Indonesia as an investment destination.
"The Indonesian government is fully committed to supporting and developing the battery and electric vehicle industry ecosystem," said Jokowi.
The government also continues to roll out structural reforms in order to provide legal certainty and ease of licensing for business actors and investors.
"I hope that the collaboration between South Korean companies and Indonesian companies can be further strengthened, including the realization of investment cooperation in the battery and electric car industries," said Jokowi.
The groundbreaking ceremony was also attended by Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, Investment Minister Bahlil Lahadalia, State-Owned Enterprises (SOEs) Minister Erick Thohir, West Java Governor Ridwan Kamil, and Karawang Regent Cellica Nurrachadiana.
President of Hyundai Motor Asia-Pacific Lee Kang Hyun, CEO of LG Energy Solution Jonghyun Kim, and CEO of PT HKML Battery Indonesia William Hong also attended the event.