South Korea’s Hyundai Motor is building a complete electric vehicle (EV) supply chain in Indonesia, a drive in line with the Southeast Asian nation’s policy of moving away from raw mineral exports and into more value-added production.
In early July, Hyundai LG Indonesia Green Power (HLI Green Power), a joint venture between Hyundai Motor and LG Energy Solution, announced the completion of a new factory in Karawang New Industry City, near Jakarta, the capital. It has since commenced production of EV batteries at the new facility.
The batteries will charge Hyundai Motor’s new KONA Electric SUV, under production at its auto factory in nearby Cikarang. Founded in 2019, Hyundai Motor Manufacturing Indonesia began assembling EVs there in 2022.
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