The Indo-Pacific Net-Zero Battery-Materials Consortium (INBC), comprising the Bakrie Group (an Indonesian conglomerate), Envision (a Shanghai-based energy company) and Glencore (a Swiss natural resources company), is leading efforts in vertical integration within the EV supply chain. This collaboration spans the entire supply chain, from mining raw materials and generating renewable energy to producing and distributing batteries. When launched, the INBC aimed to process approximately 94,000 tonnes of nickel annually – equivalent to 140 gigawatt hours (GWh) of nickel-based batteries, sufficient to power 2 million passenger EVs. The consortium also plans to develop 1 gigawatt (GW) of renewable energy capacity through a combination of onshore wind farms and natural gas-based combined-cycle power plants. Each consortium member brings its expertise to the initiative allowing to create synergies at different points of the supply chain: –Bakrie Group and Glencore: Oversee nickel mining and processing, contributing approximately 27% of the supply chain. –Envision and Bakrie Group: Lead clean energy generation, the establishment of a net-zero industrial park, and cathode and battery cell production, collectively accounting for around 44% of the supply chain. This collaboration is supported by the Indonesian and UK governments, aiming to secure low-carbon battery materials for gigafactories in the UK, France and Spain while establishing Indonesia’s first net-zero industrial park in Sulawesi. The initiative is expected to boost trade between Indonesia and the UK by over 30%, driving economic growth and advancing sustainability. In recent years, the battery industry landscape has undergone significant shifts, prompting INBC to revisit and refine their original intentions and strategies. Following initial studies, a change in EV adoption, influenced by macroeconomic and geopolitical challenges, has impacted their approach to this initiative. As a result, INBC is currently reviewing their original capacity plan to better align with the evolving industry dynamics. By forming the INBC consortium alongside Envision and Glencore, we’ve harnessed our collective strengths and mitigated risks. This partnership positions us to play a pivotal role in the global EV supply chain while accelerating the development of battery gigafactories across the G7. Anindya Novyan Bakrie, Chief Executive Officer, Bakrie Group Indonesian Nickel OreCASE STUDY 13 Indo-Pacific Net-Zero Battery-Materials Consortium forms to harness collective strengths for the development of the EV supply chain Unleashing the Full Potential of Industrial Clusters: Infrastructure Solutions for Clean Energies 32

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