Indonesia seeks investment from carmakers for e-vehicles

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

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...

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.



Support ASEAN news

Investvine has been a consistent voice in ASEAN news for more than a decade. From breaking news to exclusive interviews with key ASEAN leaders, we have brought you factual and engaging reports – the stories that matter, free of charge.

Like many news organisations, we are striving to survive in an age of reduced advertising and biased journalism. Our mission is to rise above today’s challenges and chart tomorrow’s world with clear, dependable reporting.

Support us now with a donation of your choosing. Your contribution will help us shine a light on important ASEAN stories, reach more people and lift the manifold voices of this dynamic, influential region.

$
Personal Info

Donation Total: $10.00

 

 

NO COMMENTS

Leave a Reply