Illustrative image (Photo: AFP/VNA) Jakarta (VNA) – Germany’s automaker Volkswagen plans to a build battery and electric vehicle (EV) factory worth 5 billion USD as part of its plan to set up an EV chain in Indonesia.
According to the Indonesian newspaper Kumparan, the Indonesian Government has confirmed that Volkswagen will conduct a feasibility study on the project in the next few months.
Volkswagen has identified the location for the factory, but specific details have not been disclosed. The construction work is expected to commence later this year. The factory is designed to supply battery components for EVs but will also directly produce EVs.
Volkswagen is one of several automakers accelerating their investments in EV infrastructure and building new factories to meet the growing demand for EVs.
Earlier this year, Volkswagen projected that 8 out of 10 cars sold in Europe by 2030 would be EVs./.
