Hyundai-Indonesia plant
Hyundai to produce IONIQ 5 in Indonesia plant
SEOUL, March 16 (Yonhap) -- South Korea's Hyundai Motor Co. said Wednesday it will produce the IONIQ 5 all-electric model in its first manufacturing plant in Southeast Asia.
Hyundai Motor completed the 150,000 unit-a-year plant in the Deltamas industrial complex near Cikarang, 40 kilometers east of Jakarta, in December.
Hyundai plans to invest US$1.55 billion in the plant and increase its output capacity to 250,000 units, the company said in a statement.
The company did not provide a time frame for the investment and capacity expansion.
"Hyundai will keep contributing to the establishment of the EV ecosystem in Indonesia through synergies with the battery plant that we are currently developing," Hyundai Motor Group Chairman Euisun Chung said in the plant's inauguration ceremony in Cikarang.
Hyundai is also working with LG Energy Solution Ltd., South Korea's leading car battery maker, to build a battery cell factory in Karawang, Indonesia, with a target to start production in 2024.
The Indonesian plant is already producing the compact Creta SUV, a strategic model for the region, the statement said.
The maker of the Sonata sedan and the Santa Fe SUV will help the Indonesian government in its plans to convert 130,000 units of public vehicles to electric ones by 2030, it said.
It has seven domestic plants -- five in Ulsan, one in Asan and one in Jeonju -- and 11 overseas plants -- four in China and one each in the United States, the Czech Republic, Turkey, Russia, India, Brazil and Indonesia. Their combined capacity reaches 5.65 million vehicles.
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