Summary
– Hyundai’s Executive Chair visited Indonesia to strengthen the partnership regarding EVs and hydrogen energy
– The Indonesian government is accelerating EV development and offering incentives to develop a complete EV ecosystem
– Hyundai aims to expand EV manufacturing capacity in Indonesia to over 250,000 annually
– Hyundai is the only EV manufacturer with a localized production chain in Indonesia
– Tesla has shown interest in Indonesia for a potential battery factory due to its large nickel production
Article
Hyundai Motor Group’s Executive Chair, Chung Euisun, visited Indonesia to strengthen the automaker’s partnership with the country on electric vehicles (EVs) and hydrogen energy. He met with Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto, where discussions were held about the Indonesian government’s efforts to accelerate the development of EVs through incentives and the preparation of an EV development roadmap. The goal is to establish a complete EV ecosystem in Indonesia.
According to the Korea Times, Hyundai executives’ visit to Indonesia was aimed at expanding the company’s EV manufacturing capacity in the country to over 250,000 vehicles annually. Hyundai Motor Group is currently the only electric vehicle manufacturer with a localized production chain in Indonesia. In 2021, Hyundai partnered with LG to form HLI Green Power, a joint venture that produces EV battery cells. Additionally, they opened a manufacturing facility in Bekasi, Indonesia, to produce the IONIQ 5 EV, making Indonesia a major production center in Southeast Asia for Hyundai.
Tesla has also shown interest in Indonesia, as Elon Musk recently visited Bali to launch the Starlink internet service in the country. During the visit, Indonesia’s Coordinating Minister of Investment, Luhut Pandjaitan, proposed the idea of a Tesla factory in the country, which was well-received by Musk. Last year, Tesla had discussions with Indonesian officials about establishing a potential battery factory in the country, given Indonesia’s status as one of the world’s largest nickel producers, a key material in EV batteries.
The partnership between Hyundai Motor Group and Indonesia highlights the growing focus on EVs and sustainable transportation in the country. By expanding its EV manufacturing capacity and establishing a localized production chain in Indonesia, Hyundai aims to position the country as a major hub for EV production in Southeast Asia. With the Indonesian government’s support for developing an EV ecosystem, the collaboration between Hyundai and Indonesia is expected to drive further growth and innovation in the electric vehicle sector.
As the global automotive landscape shifts towards electrification, Indonesia’s efforts to accelerate the development of EVs and hydrogen energy align with Hyundai Motor Group’s long-term sustainability goals. By investing in localized production and partnerships with Indonesia, Hyundai is not only expanding its presence in the region but also contributing to the growth of the electric vehicle industry. The potential collaboration between Hyundai and Indonesia paves the way for future advancements in sustainable transportation and reinforces the importance of international partnerships in achieving a greener future.
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