Toyota to pour 2 bln USD into electric vehicle production in Indonesia
Japanese carmaker Toyota is planning to invest 2 billion USD in developing electric vehicles (EV) in Indonesia in the next five years.
A car assembly factory of Toyota (Photo: VNA)Jakarta (VNA) – Japanese carmaker Toyota is planning to invest 2 billion USD in developing electric vehicles (EV) in Indonesia in the next five years.
The commitment was made during a virtual meeting on December 8 between Toyota's chief executive officer for Asia region Yoichi Miyazaki and Coordinating Minister for Economic Affairs Airlangga Hartarto.
Toyota is set to cooperate with the Indonesia Tourism Development Corporation to carry out the EV Smart Mobility project in Nusa Dua, Bali’s eco-tourism ecosystem.
Miyazaki said the manufacturer plans to introduce 10 electric vehicles to Indonesian consumers by 2025, noting that it prepares the country to become an export hub for Toyota products, not only for the ASEAN region but also for other markets.
In 2019, its unit PT Toyota Motor Manufacturing Indonesia (TMMIN) announced to start the EV production in its factory located in Karawang, West Java province. The TMMIN president director, Warih Andang Tjahjono, said a change in the production line is required to run the planned.
The company is attempting to produce hybrid vehicles in Indonesia. Hybrid vehicles are perceived as being better aligned toward the production of electric vehicles since its engine uses both battery and gasoline. The car producer expects to begin producing hybrid cars in 2022 with sport utility vehicles and multipurpose vehicles as a start.
Indonesian President Joko Widodo used to voice his desire to turn the archipelago nation into an EV hub for Asia and beyond with a target to start the production in 2022 and the share to reach 20 percent of total car production by 2025./.
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