Jun 20, 2024 06:23 PM
BUSINESS
Indonesia Seals Deals With Four Chinese Automakers to Boost EV Production
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What’s new: Indonesia has sealed deals with four Chinese electric vehicle (EV) makers, which may inject new impetus into its efforts to become a major exporter of right-hand-drive EVs.
The deals were signed during a two-day visit to Beijing last week by Indonesian Industry Minister Agus Gumiwang Kartasasmita, who on Friday hailed the partnerships as an integral part of reaching the Southeast Asian country’s goal to produce 600,000 EVs by 2030.
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- Indonesia signed agreements with four Chinese electric vehicle makers to boost its EV production and exports.
- The country aims to produce 600,000 EVs by 2030 and export to 54 nations.
- Indonesia leverages its ample nickel reserves, crucial for battery production, to attract these partnerships and expand its role in the EV supply chain.
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Who’s Who
- Neta Auto
- Neta Auto, one of the four Chinese EV-makers partnering with Indonesia, aims to increase the proportion of domestically produced car parts in its locally manufactured vehicles to 60% by 2025. This initiative is part of a scheme called Neta Auto Manufacturing Indonesia, which underscores their commitment to augment local production in the Indonesian market.
- SAIC-GM-Wuling Automobile Co. Ltd.
- SAIC-GM-Wuling Automobile Co. Ltd. is one of the four Chinese EV makers that have signed deals with Indonesia for EV production. In April, their Baojun Cloud model was the best-selling EV in Indonesia, leading the EV sales rankings according to the Association of Indonesian Automotive Industries.
- Chery Automobile Co. Ltd.
- Chery Automobile Co. Ltd. is one of the Chinese EV makers that has signed a deal with Indonesia. Chery is exploring the possibility of producing plug-in hybrid vehicles in the country as part of its cooperation with the Indonesian government.
- Dongfeng Sokon Motor Co. Ltd.
- Dongfeng Sokon Motor Co. Ltd. is one of the four Chinese electric vehicle makers that have signed cooperation agreements with Indonesia. These deals aim to help Indonesia become a major right-hand-drive EV exporter. Each company, including Dongfeng Sokon, has specific collaboration plans with the Indonesian government, although the article does not detail Dongfeng Sokon's particular initiatives.
- Guangzhou Automobile Group Co. Ltd.
- In April, Guangzhou Automobile Group Co. Ltd.'s EV marque Aion announced plans to build its second Southeast Asian factory in Indonesia. The factory will have an initial production capacity of 100,000 cars per year. This expansion comes as Chinese EV-makers, amid increasing competition at home, are expanding their presence in Indonesia, where battery-powered car penetration remains relatively low.
- BYD Co. Ltd.
- In January, BYD Co. Ltd., the world’s largest electric vehicle maker, announced a $1.3 billion investment to build a plant in Indonesia. This facility will have an annual production capacity of 150,000 vehicles.
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What Happened When
- Last week：
- Indonesian Industry Minister Agus Gumiwang Kartasasmita conducted a two-day visit to Beijing.
- Friday：
- Agus Gumiwang Kartasasmita hailed the partnerships with the four Chinese EV makers.
- January 2024：
- BYD Co. Ltd., the world’s largest EV-maker, said that it would invest $1.3 billion to build a plant in Indonesia.
- April 2024：
- Guangzhou Automobile Group Co. Ltd.’s EV marque Aion announced plans to build its second Southeast Asian factory in Indonesia.
- April 2024：
- Chinese brands topped the EV sales rankings in Indonesia, with Baojun Cloud being the best-selling model.
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