On March 30, 2023, Huayou Cobalt and Vale Indonesia announced the signing of a definitive agreement with global car manufacturer Ford Motor Company in Taman Kehati, South Sulawesi Province. Indonesian President Joko Widodo and Indonesian Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan, attended the signing ceremony and appreciated the cooperation. The three companies will establish a three-party partnership to conduct an equity investment in High Pressure Acid Leaching (HPAL) project in Pomalaa to promote more sustainable nickel smelting production and to support the development of EV ecosystem by producing a more affordable new energy battery materials.