Hyundai Plans to Make Electric Cars in Indonesia
Time for some news…
Hyundai plans to start producing electric cars in Indonesia.
This is part of an 880,000,000 USD investment in Indonesia.
Hyundai does have some assembly plants in the SEA region but this will be the first complete factory in South East Asia.
Indonesia has ample reserves of nickel laterite ore.
Nickel laterite ores are a vital ingredient for lithium-ion batteries.
More than half of the cars will be EXPORTED
The factory will have a 250,000-unit capacity.
53% will be for export and 47% will be for the Indonesian domestic market.
That means electric Hyundai Konas might start coming to our shores soon.
Hyundai states that nothing had been decided regarding new production facilities.
Hyundai has a hard time penetrating the ASEAN market
The ASEAN market is dominated by Japanese powerhouses like Toyota and Honda.
Hyundai sold 1,372 units (between January to October 2018) in Indonesia
Toyota sold 463,565 units in that same time period in Indonesia.
On a side note, Hyundai announced a 250,000,000 USD investment in Grab. They might just start offering electric vehicles for Grab Car drivers in South East Asia.
Interesting times ahead.