Hyundai Motor Group to strengthen EV partnership in Indonesia

Hyundai Motor Group’s Executive Chair, Chung Euisun, recently visited Indonesia to strengthen the automaker’s partnership with the country on electric vehicles (EVs) and hydrogen energy. During the visit, Hyundai executives met with Indonesia’s Coordinating Minister for Economic Affairs, Airlangga Hartarto to discuss the acceleration of EV development in Indonesia. The Indonesian government is preparing for an EV development roadmap and offering relevant incentives to develop a complete EV ecosystem in the country. The Hyundai executives’ visit aimed to establish closer ties and identify further growth opportunities in Indonesia.

The Company’s goal is to make Indonesia its major production center in Southeast Asia. In 2021, Hyundai and LG formed a joint venture called HLI Green Power to produce EV battery cells. Subsequently, the South Korean automaker set up a manufacturing facility in Bekasi, Indonesia, which manufactures the IONIQ 5 EV. In a separate development, Elon Musk, CEO of Tesla, visited Bali and expressed interest in launching Starlink internet service in Indonesia.

During his visit, Indonesia’s Coordinating Minister of Investment, Luhut Pandjaitan, proposed the idea of establishing a Tesla factory in the country. Musk responded positively to the proposal. Indonesia’s significant nickel production, an essential material for EV batteries, makes it an attractive location for a battery factory.

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