Zhejiang Huayou Cobalt $603799.SS has been appointed as the new strategic investor in one of Indonesia's largest electric vehicle (EV) battery production projects, replacing South Korea's LG Energy Solution (LGES) $373220.KS. This announcement was made by Indonesia's Minister of Energy and Mineral Resources, Bahil Lahadalia, underscoring the country’s ambitions to enhance its battery manufacturing capabilities and capitalize on its abundant mineral resources.