Hyundai Invests US$1.5 Bln to Build 2 Battery Factories in Indonesia

By Editorial Team 12/07/2023
Summary

Hyundai invested US$1.5 billion to construct two electric battery factories in Indonesia.

Hyundai Motor Asia Pacific President Lee Young Tack said the first factory is being built in Cikarang, Bekasi, West Java, with an initial investment of US$60 million.

Moreover, Hyundai is collaborating with LG Energy Solution Ltd to establish a second factory in Karawang, West Java, valued at US$1.1 billion. "The total investment [for both battery plants] reaches US$1.5 billion," Lee said during a visit to PT Hyundai Motor Manufacturing's plant in Bekasi on Tuesday.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.