Login

Indonesia In Talks With Ford And Hyundai To Setup operational Base For EVs

According to a Reuters report, Indonesia invited Ford Motor Company and Hyundai Motor Company to set up its operational base related to electric vehicles in the Southeast Asian country.
Calendar-icon

By Shubham Parashar

clock-icon

1 mins read

Calendar-icon

Published on October 25, 2022

Follow us on

google-news-icon
Story

Highlights

  • Indonesia invites Ford and Hyundai to set up EV base in the country.
  • Indonesia Coordinating Minister for Economic Affairs, Airlangga Hartarto, made the statement.
  • Indonesia has raw materials for EV battery technologies.

The Indonesian government seems to be pulling up its socks in a bid to catch up with other markets in the EV space. According to a Reuters report, Indonesia invited Ford Motor Company and Hyundai Motor Company to set up its operational base related to electric vehicles in the Southeast Asian country. The report states that Indonesia Coordinating Minister for Economic Affairs, Airlangga Hartarto, made this statement in Washington, D.C. last week and the country is gearing up to work in this direction.3bftb8s ford mustang mache exclusive review 625x300 06 December 21 2022 10 25 T11 30 37 590 Z

Ford, nickel miner Vale Indonesia and China's Zhejiang Huayou Cobalt had earlier said that in July they had signed a non-binding memorandum of cooperation to build a plant in Indonesia to extract nickel chemicals. Hartarto said Indonesia also is in discussions with Hyundai and South Korean battery maker LG Energy Solution over battery and EV investments. "We have raw materials for EV battery technologies," Hartarto told an audience at the Center for Strategic and International Studies. Indonesia's large supplies of nickel, as well as semiconductor production capacity, can support the U.S. auto industry," Hartarto said.

Hyundai Ioniq 5

If the deal materialise, Indonesia will be join the Asian developing economies in the push for faster adoption of greener vehicles. While Ford already winded up from the Indian market last year and is likely to make its comeback selling CBU models like the Mustang Mach-E, Hyundai India already sells the locally assembled Kona electric SUV in our market is testing the Ioniq 5 on the Indian roads as well.

Calendar-icon

Last Updated on October 25, 2022


Stay updated with automotive news and reviews right at your fingertips through carandbike.com's Google News

Related Articles

Latest News