Ford to Build Nickel Processing Plant

Ford signs USD 4.5 billion agreement with Indonesian mining company PT Vale Indonesia Tbk and Chinese Zhejiang Huayou Cobalt to establish a nickel processing facility. In a statement from Ford, the company announced that it has entered into a nickel agreement with PT Vale Indonesia and Zhejiang Huayou Cobalt to support the growth of the global sustainable electric vehicle industry. The statement noted that through the agreement, the three parties will collaborate to increase sustainable nickel production in Indonesia and help make electric vehicle batteries more affordable. The statement recalled that construction of the nickel processing facility by PT Vale Indonesia Tbk and Zhejiang Huayou Cobalt began in November, with the facility expected to commence operations in 2026. The statement indicated that the collaboration will supply the materials necessary for the automotive industry's transition to electric vehicles, while also developing Indonesia's electric vehicle manufacturing industry and supporting Ford's plan to produce 2 million electric vehicles by the end of 2026.   Source