trending Market Intelligence /marketintelligence/en/news-insights/trending/zKA5oOtybNb_cu3llur5zQ2 content esgSubNav
Log in to other products


Looking for more?

Contact Us
In This List

Hyundai to invest $880M in Indonesia plant for electric vehicles


Climate Credit Analytics: Linking climate scenarios to financial impacts


What’s next in Cloud?


Global M&A Infographic Q1 2021


COVID-19 Impact & Recovery: Private Equity

Hyundai to invest $880M in Indonesia plant for electric vehicles

Hyundai Motor Co. plans to invest $880 million in Indonesia to begin producing electric vehicles in the country, Reuters reported Dec. 20, citing Indonesia'a deputy minister for industry.

The plant will have a capacity of 250,000 units that will include electric vehicles. The company plans to export 53% of the units made in the plant to Southeast Asia and Australia while 47% of the units will be sent to the domestic market.

Hyundai reportedly plans to cut its reliance on China so it can avoid competition and poor sales brought about by Seoul-Beijing tensions.

Earlier in December, Hyundai signed a joint venture agreement with Algeria's Global Group to establish a vehicle production plant in the Algerian city of Batna.