CATL Supplier Lopal Said to Seek $200 Million for Indonesia Unit

Jiangsu Lopal Tech Co. is considering raising about $200 million for its Indonesian unit as it ramps up local production of materials used in electric-vehicle batteries, according to people familiar with the situation.

Lopal, a supplier to the world’s largest battery maker Contemporary Amperex Technology Co. Ltd., is working with an adviser to gauge interest from potential investors, the people said, asking not to be identified discussing private information.

Deliberations are ongoing and may not lead to an agreement, the people said. A representative for Lopal declined to comment.

Lopal has said it expects to start production at its ...