Robert Besser
22 Jan 2023, 02:30 GMT+10
JAKARTA, Indonesia: Indonesian coordinating minister Luhut Pandjaitan has said that the government is finalizing agreements with China's automaker BYD and US carmaker Tesla to invest in electric vehicle production facilities in the Southeast Asian country.
Indonesia aims to attract investment in batteries and EVs by leveraging its rich nickel resources. Once a major nickel ore exporter, Indonesia has banned exports to ensure supplies of raw materials for investors.
During a meeting with provincial governments, Pandjaitan said, "All the biggest electric car makers in the world will invest here. BYD Group, the number one in the world, Tesla, the number two, Hyundai and so on, they are all finalizing deals with Indonesia."
In March 2022, South Korean carmaker Hyundai opened its plant in Indonesia, which produces the country's first locally assembled EVs.
SGMW Motor Indonesia, part of a joint venture of SAIC Motor, General Motors and Wuling Motors, also build auto assembly facilities in Indonesia.
Get a daily dose of Professional Autos news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Professional Autos.
More InformationNEW YORK, New York - There was a major bust on Wall Street on Tuesday as investors continued to fret ...
DETROIT, Michigan: This week, the United Auto Workers (UAW) expanded its members' strike to include dealers selling and servicing General ...
TOKYO, Japan: Toyota Motor (7203.T) is ramping up its production of electric vehicles (EVs) under both the Toyota and luxury ...
WASHINGTON D.C.: After consumer complaints of oil pump failures, the National Highway Traffic Safety Administration's (NHTSA) Office of Defects Investigation ...
NEW YORK, New York - With no major news Monday, and nothing on the horizon, U.S. stocks remained little moved, ...
WASHINGTON D.C.: In a small but rare reduction to its headcount, which has grown steadily since 2010, the US Federal ...
Washington DC [USA], September 27 (ANI): The Karnataka delegation led by Large and Medium Industries Minister MB Patil which is ...
Ethiopia is set to open a factory to assemble Lada automobiles, the country's ambassador has saidEthiopia is planning to open ...
From 'stalinka' and 'khrushchyovka' to the "improved designs" of Brezhnev's times: How did the construction of the country change depending ...
© Provided by Xinhua Efforts are underway to create a conducive environment for Chinese tourists so as to tap into ...
NINEVEH, Iraq - At least 100 people were killed and 150 were injured in a fire at a wedding celebration ...
Hyderabad (Telangana) [India], September 27 (ANI): The Military College of Electronics and Mechanical Engineering (MCEME) under the Army Training Command, ...