Hyundai Motor Group plans to establish a battery pack factory for battery electric vehicles (BEV) which will ensure the stability of battery supply in ASEAN. This factory will be under the auspices of Hyundai Energy Indonesia.
Construction of Hyundai Energy Indonesia is expected to start in the first half of 2023. Hyundai Motor Group plans to start mass production of battery packs in the second half of 2024.
Hyundai explained in its official statement that this factory will produce battery packs and systems that will be optimized for BEVs, with battery cells produced locally and then supplied to BEV models manufactured in Indonesia.
The presence of Hyundai Energy Indonesia in the future will further integrate the electrification ecosystem of Hyundai Motor Group in Indonesia, as well as the Hyundai Motor Manufacturing Indonesia plant that is already producing BEVs and also the upcoming battery cell factory, fruit of the collaboration with LG Energy solution. srl.
Also, when the battery cell and battery pack factories start operating in 2024, the export duty free Indonesian-made BEV to ASEAN will be very much possible, reaching the level of localization in Indonesia.
In addition, it is also possible to expand Indonesia’s EV supply and increase price competitiveness, by providing a variety of EVs to Indonesian customers.
As a result, when locally produced electric vehicles are equipped with locally produced batteries and battery packs, the luxury goods tax for hybrid electric vehicles or HEVs will increase from 6% to 10%, which is expected to further accelerate the market growth of electric vehicles. .
“The initial plan to invest in factories in Indonesia is a stepping stone to strengthen Hyundai’s commitment to support BEV production in Indonesia from upstream to downstream for the future of broader electric mobility in the future.” wrote Hyundai Motor Group.
“Hyundai Motor Group provides manufacturing support for high-performance battery packs and advanced safety features, which are supported by Hyundai’s integrated global standard management system,” he continued.
Indonesia is said to have the great potential needed to become a major player in the global EV industry. Furthermore, Indonesia is one of the leading countries in nickel and cobalt resources, which are the main materials for BEV batteries.
“This demonstrates that Indonesia has all the necessary resources to produce BEVs while reinforcing its position as one of the important players in the global electrification era.”
Previously, Hyundai Motor Group and LG Energy Solution partnered to invest in a battery cell factory in Karawang, West Java, Indonesia. The plant aims to produce 10 GWh of NCMA lithium-ion batteries per year that will support more than 150,000 BEVs.
“Aside from that, Hyundai Motor Group is also a pioneer and market leader for BEVs in Indonesia, setting up a local factory that mass-produces the IONIQ 5, one of Hyundai Motor Company’s flagship BEV models, and also builds more than 200 charging stations spread all over Indonesia”.
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(quote/rgr)
