Hyundai launches its first manufacturing facility in Southeast Asia
Category: #headline  By Akshay Kedari  Date: 2022-03-17
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Hyundai launches its first manufacturing facility in Southeast Asia

Hyundai Motor Company has reportedly inaugurated Hyundai Motor Manufacturing Indonesia – its first production plant in Southeast Asia, located near Cikarang at the Deltamas industrial complex, Indonesia.

The plant is expected to be an important milestone in the growth of Indonesia's EV ecosystem and is the company’s first facility to build battery electric vehicles in Southeast Asia, starting with the manufacturing of Hyundai’s IONIQ 5 electric cars.

The inauguration succeeds a Memorandum of Understanding (MOU) that Hyundai had signed with the Indonesian government to set up and operate a local manufacturing unit that will be heralded as the company’s manufacturing hub in the Southeast Asian market. 

As per sources, dignitaries attending the event included Indonesia’s President, Joko Widodo, Hyundai Motor Group’s Executive Chairman Euisun Chung, Coordinating Minister of Economic Affairs Airlangga Hartarto, Coordinating Minister of Investment and Maritime Luhut Binsar Panjaitan, Transportation Minister Budi Karya, Investment Minister Bahlil Lahadalia, State Secretary Pratikno, Minister of State-Owned Enterprises Erick Thohir, and the Ambassador to Indonesia Park Tae-sung.

Last December, Hyundai constructed a factory with an initial production capacity of 150,000 units. The carmaker now plans to invest USD 1.55 billion in the plant and the production capacity is expected to be extended to 250,000 units.

Chung was quoted saying that Indonesia is a major hub for Hyundai’s future mobility plans. The new manufacturing plant will be a disruptive factor in the automotive industry, especially in the EV sector.

The Hyundai Chairman further added that the company will continue its efforts towards the establishment of Indonesia’s electric vehicle ecosystem via the ongoing construction of its battery cell plant, which will make the country a key market in the global market landscape.

Notably, the Indonesian Government is heavily emphasizing expanding its EV ecosystem, with programs like conversion of 130,000 government vehicles to EVs by the end of this decade.

Source Credits –

https://www.hyundai.com/worldwide/en/company/newsroom/hyundai-motor-company-inaugurates-its-first-manufacturing-plant-in-southeast-asia-0000016807?type=RES&category=News&listPageUrl=newsroom

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Akshay Kedari    

Akshay Kedari

Akshay holds a Bachelor’s degree in computer engineering. Despite having a penchant for software development and the like, Akshay took to writing as a career owing to his passion for the field. Presently, Akshay writes articles for itresearchbrief.com and a few oth...

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