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Ford-backed Ni plant seeks $2.7B in financing

  • Zhejiang Huayou Cobalt Co. is seeking $2.7 billion in financing for a Ford-backed nickel plant project in Indonesia.
  • The project aims to produce battery-grade nickel for electric vehicles in collaboration with Ford and PT Vale.
  • HSBC and Standard Chartered are working with Huayou to arrange the loan, and other banks are invited to participate.
  • Indonesia, a major nickel producer, is attracting investments from automakers like Ford, Tesla, and Stellantis to secure nickel supplies.

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