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Hyundai Motor Group opened its newest plant in Indonesia this week. The facility is expected to manufacture the very first electric vehicle that is assembled locally.
Reuters reported the country's President Joko Widodo was present in the opening, and he said the government has been providing incentives and eliminated red tape in an attempt to bolster investment in the country's EV development. The Indonesian chief's support is part of his goal to develop a full EV supply chain while making use of the region's mineral resources.
For its official launch in Indonesia, Hyundai Motor held the opening ceremony on Wednesday, March 16. The event was also a celebration for the completion of the company's first Southeast Asian factory. The facility is located in the Deltamas Industrial Complex, which is around 40 kilometers from the east of Jakarta.
The new factory will provide a footing for Hyundai Motor to make its presence more prominent and expand in the Southeast Asian auto market. It was noted that this industry has been so far dominated by the company's Japanese rivals.
In his speech, President Jokowi congratulated Hyundai Motor for the completion of its plant in Indonesia and soon will start the production of its best-selling IONIQ 5 EVs. this will also be the very first EV that has ever been made in the country.
"I hope that this IONIQ 5 from Hyundai will become an important milestone in the development of Indonesia's electric vehicle ecosystem, and to further accelerate the electric car ecosystem that is more advanced," Reuters quoted the Indonesian president as saying. "We need to be an important player in the global supply chain of electric cars and our country has large mineral resources that can be used for the development of electric cars."
As per The Korea Times, Chung Euisun, the chairman of Hyundai Motor Group, stressed the importance of its new facility as Indonesia is the fourth most populous country in the world. He said that this would be the key hub for Hyundai's mobility strategy for the future.
Meanwhile, the company is planning to invest $1.55 billion to raise the plant's annual production capacity to 250,000 vehicle units. These made-in-Indonesia models may also be exported to other countries, including Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, without tariffs based on the ASEAN Free Trade Area agreements.
