Ford Signs Nickel Deal With PT Vale Indonesia, China's Huayou To Support EV Industry

(RTTNews) - Ford Motor Co. (F) announced Thursday a nickel agreement with Indonesia's PT Vale Indonesia Tbk and China's Zhejiang Huayou Cobalt Co. aiming to support growth of the global sustainable electric vehicle or EV industry.

The three-party collaboration is projected to advance more sustainable nickel production in Indonesia and help make electric vehicle batteries more affordable.

Ford said all three companies are making equity investments in the Pomalaa Block High-Pressure Acid Leaching or HPAL Project through their definitive agreement.

The Pomalaa Block HPAL Project will process ore provided by PT Vale Indonesia from its Pomalaa Block mine to produce MHP. The HPAL plant will operate under PT Kolaka Nickel Indonesia in the Pomalaa Block nickel industrial area.

Subject to regulatory approval, the project could produce up to 120 kilotons per year of contained nickel in the form of mixed hydroxide precipitate, a lower-cost nickel product used in EV batteries with nickel-rich cathodes.

Ford noted that Pomalaa Block HPAL Project early site preparations have already started, and full construction is expected to start this year, with commercial operations beginning in 2026.

The collaboration is expected to deliver materials essential for the auto industry's shift to EVs, enhance Indonesia's EV manufacturing industry and support Ford's plan to deliver a 2 million EV production run rate by the end of 2026 and further scale over time.