Indonesia has shown remarkable economic growth in the past few years. It became an industrial economy from a commodity-based economic state. The main reason behind this is the natural resources present in the bulk amount in Indonesia.
If we talk about the automobile industry, electric cars and electric bikes are the new black. Every country is demanding electric automobiles to cope with the drastic increase in global warming. Recent fires in the jungles of Amazon have made people realize how careless they have been with the usage and burning of fuels. The increase in smog is also a kind of alarm for the people to take care of their surroundings.
Automobiles are a basic need. They are used for several purposes. They are used for personal service as well as transportation of goods. The developed countries are already using electric automobiles to cope up with environmental issues.
It is assumed that shortly, the use of fuel-consuming automobiles will be banned entirely. People will shift towards using electric automobiles.
Electric automobiles are run by EV batteries, a.k.a the powerhouse of their system. These batteries are called lithium-ion batteries but this name has to do nothing with their composition. Recent research has proved that it is not the lithium but the nickel running the whole battery system. Nickel is making the batteries even more powerful and helps them to store a large amount of energy. Moreover, nickel is very low in cost. This revelation has created a buzz in the whole automobile industry.
Reason Behind Indonesia’s Economic Growth
We can say that the metal nickel is the primary reason behind Indonesia’s rapid increase in economic growth. Indonesia has the largest reservoirs of nickel. The manufacturing company in Indonesia uses that nickel to manufacture batteries. In this way, Indonesia has become the largest supplier of EV batteries worldwide, especially in Asia. That is why Indonesia is regarded as the powerhouse of East Asia.
The manufacturing company of Indonesia has already signed a contract with the world’s two most famous car brands. It will supply the EV batteries to them throughout the time period of the contract. Other countries have also signed big contracts with Indonesia for the search of nickel. The increase in nickel mining has supported the economy of Indonesia throughout these past few years.
Indonesia is located in between the world’s most economically rich and powerful country. Other reasons for its economic growth may include the increase in Indonesia’s population ( especially the middle class). Political stability is also the reason behind its economic growth. Its strategic position is also the cause behind its increased economic chain.
How To Invest In Its Growth?
One way to invest in economic growth is through Luminous Graha Groups. You can invest in the nickel. The demand and prices of nickel would increase day by day, resulting in much profit. The luminous Graha group provides a safe and easy exchange. Its currency is called LUMI. The value of LUMI is increasing day by day. You can trust this company as it has also solved many problems regarding nickel exchange.