Electric cars will be produced in Indonesia – that’s great news!
According to deputy minister for industry in Indonesia, Hyundai will invest $880 million in a new production plan for 250,000 cars annually.
Part of the production is to be electric cars. Hyundai wants to to add a new factory in Southeast Asia to expand its manufacturing capacity dependence from China.
53% of the production is scheduled for export, while 47% for Indonesia. But as Hyundai sold less than 1,400 cars during first ten months of this year in the country, it would be a tough target. The market is dominated by Japanese brands – Toyota sold over 463,000 cars through January-October.
So far there is no official press release from Hyundai.