Indonesia to start the electric vehicle (EVs) production in 2022 said a senior official at the Industry Ministry. Many companies disclosed the investment in the country. The country is looking forward to pushing the adoption of EV and battery production facilities to develop a downstream industry for the country.
Indonesia to start electric vehicles production in 2022
As the rich supplies of the nickel laterite ore which are used in the Li-ion batteries. The companies such as Industry Ministry Toyota Motor Corp and Hyundai revealed the plan to build the EV plants in Indonesia which are Southeast Asia’s second-largest car production hub.
Toyota will invest $2 billion in Indonesia
In the next 5 years, the Toyota will invest $2 billion in Indonesia to produce EVs said Industry Minister Airlangga Hartarto. By 2022 the production of electric vehicles should start said the director-general of metal, machinery, transportation, and electronics at the Industry Ministry. The government aims to reach a 20% share of the national car production by 2025.
The government of Indonesia to revise the luxury car tax scheme to motivate the less carbon emission production cars.
Indonesia to start electric vehicles
The government is also offering tax holidays for the companies who are producing EV batteries in Indonesia. Recently some of the battery companies have met the industry minister but it is still an initial intention sais Harjanto.
Indonesia has a great potential to develop EVs as it has all the required materials used to produce EVs he said.
Some of the companies are also developing smelters with high-pressure acid leach (HPAL) Technology to produce the battery chemicals in Indonesia including China‘s Tsingshan Group.
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