Investing.com-- Contemporary Amperex Technology Co Ltd (CATL) (SZ: 300750 ), the world’s top maker of electric vehicle batteries, is seeking a loan of about $1 billion to fund an investment in Indonesia, Bloomerg reported to Tuesday, citing people familiar with the matter.

The facility could carry a term of five to seven years, and the proceeds will finance the firm’s joint venture, which plans to build a battery cell manufacturing facility in Karawang, West Java, the report said.

CATL is one of Tesla’s (NASDAQ: TSLA ) biggest battery suppliers.

Shezhen listed shares of the company rose 1.4% on Tuesday.

Recent media reports have shown that CATL is considering a secondary listing in Hong Kong that could raise at least $5 billion.