Korea, Indonesia Join Forces To Develop EV Ecosystem

Indonesian officials and business leaders announced its support to boost the electric vehicles (EV) ecosystem in the Southeast Asian country through a collaboration with South Korea.

“The collaboration is very important because you (Korea) have very good technology on the lithium battery,’’ said Coordinating Minister of Maritime Affairs and Investment Of Indonesia, Luhut Binsar Pandjaitan during the recent business forum held on Friday (March 24).

He further added ‘’By 2027, we are hopefully going to be the largest lithium battery producer globally.”

The Indonesian government further claims that the nation has decided to provide tax breaks of up to 11% for people who want to buy electric vehicles (EV).  According to the reputable online source, it indicates 280 million people living in Indonesia, and every year, 1 million cars are sold there.

“In step with the Indonesian government’s direction of the mid- to long-term eco-friendly and energy policies, Hyundai Motor is putting efforts across all sectors of the EV ecosystem to support the Indonesian EV industry,” said Executive Vice President At Hyundai Motor Group, Lee Young-Tack.

Photo credits to Korea Times

Aptly, Hyundai reported to become the largest EV maker in Indonesia with the successful Ioniq 5 being produced at its local plant there.

According to The Korea Herald, after 2,500 EVs sold last year, the carmaker aims to bolster its EV sales to 10,000 units this year which sees a practical movement to further extend the gap with global rivals such as Tesla and Lexus.

Separately, aside from discussing the development of the EV ecosystem in Indonesia, both parties are also looking at a new project which involves building 100 units of Hyundai EVs that will be outfitted with traditional Indonesian dyeing technique called “batik” for its cabin space.