Hyundai Motor plans to start producing electric vehicles in Indonesia as part of a big investment plan for the country, according to a Reuters report citing remarks by a senior government minister.
The report said Hyundai plans to build a factory in Indonesia with a capacity of about 250,000 units a year, including for electric cars. It sees Indonesia as a high potential market, the report said, noting that Indonesia also has reserves of precious metals that are included in lithium-ion batteries.
Go deeper with GlobalData
Around half of the vehicles made at the planned plant would be allocated for export to other SE Asian markets and Australia, the report said.
It also cited a statement from Hyundai that said it was 'considering various ways to expand' in new markets including southeast Asia.
Currently the southeast Asian market is dominated by Japanese OEMs – most notably Toyota.
Indonesia is seen as a market with big potential, given the country's large and expanding population.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalData
