Indonesia's SWF, China's CATL, CMBI to set up $2b fund for electric vehicles

Indonesia's SWF, China's CATL, CMBI to set up $2b fund for electric vehicles

Photo: Michael Marais / Unsplash.com

Sovereign wealth fund Indonesia Investment Authority (INA), Chinese battery manufacturer Contemporary Amperex Technology Co., Limited (CATL), and CMB International Capital Corporation Limited (CMBI) have signed a Memorandum of Understanding (MoU) to establish, and invest in, a $2 billion fund targeting electric vehicles.