Mitsubishi announced in July 2022 it intends to spend a further US $665m in Indonesia, to build hybrid & electric vehicles. In recent years, it has already spent c. US $700m in the Indonesian car industry.
Indonesia has some of the world's largest Ni laterite deposits- but cf with Ni sulphides,(which BSX has in its mines in Vietnam), Ni laterites are far "inferior", as they require much more energy to refine for EV vehicles & batteries. The vast majority of Indonesia's energy comes from its vast coal (not as "clean", has high CO2 emissions, cf Australian coal), oil, & gas reserves.
BSX, of course, would use "clean green" hydro for its Ni mines, & proposed NCM refinery- MUCH more attractive for ESG purposes, & promoting the advantages/selection of EV vehicles etc. Hopefully, VinFast would utilise BSX Ni mines & refinery for its EV vehicles & NCM batteries- gives it a strong PR advantage, on ESG grounds, compared to other vehicle makers who use fossil fuels.
BSX Price at posting:
22.0¢ Sentiment: Buy Disclosure: Held
