Indonesia seeks investment from carmakers for e-vehicles

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Indonesia Seeks Investment From Carmakers For E-vehicles

The Indonesian government is seeking investment from Renault and Volvo to make electric vehicles as the country targets battery-powered automobiles to account for a quarter of the production by 2030, The Jakarta Post wrote.

The government has asked the two carmakers to consider building factories or assembly units in Southeast Asia’s largest market for cars, as it eyes production of 750,000 electric vehicles by 2030, said Harjanto, director general of metal, machinery, transportation and electronics at the industry ministry. The country’s total vehicle production is seen more than doubling to three million units during the period, he said.

President Joko Widodo has promised tax incentives to draw foreign investment in electric vehicles while also making it expensive to own fossil fuel-powered automobiles to save the country about $56 billion from reducing dependence and imports of crude oil. While Hyundai Motor and Volkswagen have shown interest in manufacturing electric vehicles, a consortium of Chinese and Indonesian companies is already building a battery plant, according to Industry Minister Airlangga Hartarto.

Renault Indonesia COO Davy Tuilan said the French automaker will need to first conduct a feasibility study before deciding on investing in Indonesia, while Kina Wileke, a Volvo spokeswoman, didn’t immediately respond to request for comments.

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The Indonesian government is seeking investment from Renault and Volvo to make electric vehicles as the country targets battery-powered automobiles to account for a quarter of the production by 2030, The Jakarta Post wrote. The government has asked the two carmakers to consider building factories or assembly units in Southeast Asia’s largest market for cars, as it eyes production of 750,000 electric vehicles by 2030, said Harjanto, director general of metal, machinery, transportation and electronics at the industry ministry. The country’s total vehicle production is seen more than doubling to three million units during the period, he said. President Joko...

Reading Time: 1 minute

Indonesia Seeks Investment From Carmakers For E-vehicles

The Indonesian government is seeking investment from Renault and Volvo to make electric vehicles as the country targets battery-powered automobiles to account for a quarter of the production by 2030, The Jakarta Post wrote.

The government has asked the two carmakers to consider building factories or assembly units in Southeast Asia’s largest market for cars, as it eyes production of 750,000 electric vehicles by 2030, said Harjanto, director general of metal, machinery, transportation and electronics at the industry ministry. The country’s total vehicle production is seen more than doubling to three million units during the period, he said.

President Joko Widodo has promised tax incentives to draw foreign investment in electric vehicles while also making it expensive to own fossil fuel-powered automobiles to save the country about $56 billion from reducing dependence and imports of crude oil. While Hyundai Motor and Volkswagen have shown interest in manufacturing electric vehicles, a consortium of Chinese and Indonesian companies is already building a battery plant, according to Industry Minister Airlangga Hartarto.

Renault Indonesia COO Davy Tuilan said the French automaker will need to first conduct a feasibility study before deciding on investing in Indonesia, while Kina Wileke, a Volvo spokeswoman, didn’t immediately respond to request for comments.

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