Two global car maker, Germany Volkswagen (VW) and South Korea’ Hyundai Motor Corp., plans to build a car factory in Indonesia, a government official said on Thursday (12/20).
Director general at Industry ministry Harjanto said, VW wants to build an assembly line to produce Tiguan in Indonesia with an investment of around EUR50 million. VW will joint with local partner PT Garuda Mataram Motor, unit of PT Indomobil Sukses Makmur Tbk (IDX: IMAS), on the project.
While, Hyundai prepared an investment up to Rp12 trillion (US$827.59 million) to produce electric car in the country.
The manufacturer plan to build a factory with a capacity of around 250,000 units, including for electric cars. The plan, the production of electric cars as much as 53 percent will be allocated for exports to the Southeast Asian region and Australia while the remaining is for the domestic market.