Hyundai Motor chief in Jakarta meets Indonesian president

Hyundai Motor Group Chairman Chung Euisun has arrived at Jakarta, Indonesia, to discuss cooperation on EV production and sales in the Southeast Asian country with Indonesian President Joko Widodo and other government officials at the country’s EV roadmap presentation event Jakarta International Expo on Monday. The Korean auto conglomerate in a joint venture with LG Energy Solution is planning to spend $1.2 billion to build Southeast Asia’s first EV battery plant in the country rich in natural resources for battery materials of nickel, cobalt and manganese. The company building a separate finished car plant in Bekasi will be churning out combustion engine cars first from January next year and may produce EVs from March.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]