Hyundai Motor Group to deepen EV partnership in Indonesia
Hyundai Motor Group’s Executive Chair, Chung Euisun, visited Indonesia recently to deepen the automaker’s partnership with the country regarding electric vehicles (EVs) and hydrogen energy. Hyundai Motor Group’s Executive Chair, CEO Chang Jae-hoom, and adviser Sung Kim met with Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto.
“The Indonesian government is currently accelerating the development of EVs by preparing for an EV development roadmap and offering various relevant incentives so as to develop a complete EV ecosystem in Indonesia,” said the Indonesian Minister.
The Korea Times reported that Hyundai executives visited Indonesia to forge deeper ties and find additional opportunities for growth in the country. Hyundai Motor Group allegedly wants to expand its EV manufacturing capacity in Indonesia to over 250,000 annually. The company reportedly aims to make Indonesia its major production center in Southeast Asia.
Hyundai Motor Group is the only electric vehicle manufacturer with a localized production chain in Indonesia. In 2021, Hyundai and LG established a joint venture called HLI Green Power to produce EV battery cells. The following year, the South Korean automaker opened a manufacturing facility in Bekasi, Indonesia, which produces the IONIQ 5 EV.
Tesla has also shown some interest in Indonesia. Elon Musk recently visited Bali to launch Starlink internet service in Indonesia. During his visit, Indonesia’s Coordinating Minister of Investment, Luhut Pandjaitan, pitched the idea of a Tesla factory in the country. Musk apparently responded well to Pandjaitan’s idea.
Last year, Tesla reportedly talked to Indonesian officials about a potential battery factory. Indonesia is a prime location for a battery factory since it is one of the world’s largest nickel producer, an essential EV battery material.
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