EV Production to Start in March 2022

Hyundai Motor Group chairman Chung Eui-sun (left) pose for a photo with Indonesian President Joko Widodo in front of a Genesis G80 electric vehicle on Oct. 25.

Hyundai Motor Group chairman Chung Eui-sun has declared that he will target the Southeast Asian electric vehicle market in earnest. Currently, the Southeast Asian automobile market is dominated by Japanese brands, including Toyota. However, Chung said he would turn the tables through a massive offensive in the electric vehicle field.

Chung attended the Future Electric Vehicle Ecosystem Event in Jakarta, Indonesia, on Oct. 25. "We will start mass-producing electric vehicles at Hyundai Motor's Indonesian plant next year," Chung said. "We will build an ecosystem, so that Indonesia can leap into a leading electric vehicle country."

“The electric vehicle industry will be a new future growth driver for Indonesia,” Chung added. "Hyundai Motor Group will also actively support Indonesia in the development of charging infrastructure and waste battery utilization technology."

"We will establish a hydrogen ecosystem ranging from hydrogen production, transportation, and utilization by working closely with Indonesia, which has abundant potential in renewable energy," Chung continued.

Hyundai Motor is building a car factory in the Delta Mas Industrial Complex in Bekasi, Indonesia. It plans to complete the factory by the end of 2021. It will begin to produce vehicles powered by internal combustion engines in January next year. It is also planning to produce electric vehicles starting from March next year. It plans to start with 150,000 units of electric vehicles a year and expand its production capacity to 250,000 units in the future.

In addition, ground was broken for a battery cell joint venture plant between Hyundai Motor Group and LG Energy Solution on Sept. 15. The plant is located at the Karawang New Industrial Complex (KNIC), 30 minutes away from the Bekasi factory. It will start mass-production in 2024

Hyundai Motor Group plans to establish itself as an eco-friendly brand and expand its presence in the Southeast Asian electric vehicle market based on its operations in Indonesia, which is Southeast Asia's largest automobile market.

In most Southeast Asian countries except Vietnam, Japanese brands such as Toyota and Honda account for more than 90 percent of the automobile market. However, Japanese brands are not active in converting to electric vehicles. Japanese carmakers have not begun investing in electric vehicle production in major countries in the region, such as Indonesia.

Meanwhile, the Indonesian government announced that it has selected the Genesis G80 electric vehicle as the official VIP vehicle for the 2022 Bali Summit. The event will be held in Bali, Indonesia, in the fourth quarter of 2022.

Copyright © BusinessKorea. Prohibited from unauthorized reproduction and redistribution