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 Japan Herald 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 Japan Herald.
More InformationMACAU CITY, Macau: Over the Lunar New Year holiday, Macau, the world's largest gambling hub, witnessed a resurgence of tourists ...
SINGAPORE: In December, Singapore saw its key consumer price gauge rise 5.1 percent, higher than predicted, official data said. However, ...
TOKYO, Japan: Japanese Prime minister Fumio Kishida said this week that it was "now or never" for Japan, one of ...
BANGKOK, Thailand: Following China's reopening and the end of its strict COVID-19 restrictions, businesses on Thailand's holiday island of Phuket ...
SEOUL, South Korea: Korea Customs Service data released this week showed that South Korean exports for the first 20 days ...
TOKYO, Japan: The Yomiuri newspaper has reported that Japanese Prime Minister Fumio Kishida is planning to visit Kyiv in February ...
SINGAPORE: In December, Singapore saw its key consumer price gauge rise 5.1 percent, higher than predicted, official data said. However, ...
RESTON, Virginia: Amidst labor and supply shortages, US defense contractor General Dynamics forecasted weak 2023 results, though strong demand for ...
ATLANTA, Georgia: In light of its significant debt, the slowing economy and rising interest rates stifling consumer demand, US mattress-maker ...
BENTONVILLE, Arkansas: To attract and retain employees in a tight domestic labor market, Walmart has announced that it it will ...
NEW YORK, New York - U.S. stocks hesitatingly continued higher Friday, reflecting widespread gains, albeit modest ones, across the globe."We're ...
NEW YORK CITY, New York: As early as this year, lab-grown meat could be served in some restaurants in the ...