Govt Lures Chery to Nickel Comfort Zone Amid Dynamic, Uncertain Future

By Editorial Team 07/02/2024
EV financing
Summary

Chinese car manufacturer Chery is set to make Indonesia its production hub in Southeast Asia with a gradual investment approach. Qu Ji Zong, Executive Vice President of PT Chery Sales Indonesia, revealed that the current investment is Rp 250 billion. He mentioned that Chery has inked agreements with the Indonesian government to adhere to all investment processes within the applicable regulations over the next five years.

In the completely knocked down (CKD) phase, Chery has partnered with PT Handal Indonesia Motor to assemble the Omoda E5 electric car locally. "In the first two years, I believe we will have invested and provided all the details to the Indonesian government," he stated on Feb 6. Ji Zong proudly asserted that Chery is the first automotive manufacturer to meet the minimum 40 percent local component level through the CKD scheme. However, he remains reluctant to disclose the total investment value Chery will pour into the venture over the next five years.

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