Business News Asia
Indonesia is making moves to establish itself as a leader in the electric vehicle industry by finalizing deals with two of the biggest players in the game – Chinese automaker BYD Group and American automaker Tesla. The Southeast Asian country is aggressively promoting investment in batteries and electric vehicles, leveraging its vast nickel resources to attract top manufacturers.
The coordinating minister Luhut Pandjaitan said, “All the biggest (electric) car makers in the world will invest here. BYD Group, the number one in the world, Tesla, the number two, Hyundai and so on, they are all finalising deals with Indonesia.” This news comes after South Korean automaker Hyundai opened a factory in the country last year to produce Indonesia’s first domestically assembled electric vehicle, and SGMW Motor Indonesia, a joint venture between SAIC Motor Corp, General Motors and Wuling Motors Holdings, built an assembly plant.
Indonesia’s move to secure partnerships with these major players in the industry showcases their ambition to be at the forefront of electric vehicle production and solidifies their position as a major player in the global market. With abundant resources and a drive for innovation, Indonesia is set to be a major player in the electric vehicle revolution.