Hyundai expands its production network for electric cars: It was recently reported that the Koreans want to build the Kona Elektro in Europe. Now the group plans to build an electric car plant in Karawang, Indonesia.
The Hyundai will invest about one billion US dollars for this purpose and sign the contract for the plant in November 2019, it was said in Indonesian media. Chung Eui-sun, Senior Vice Chairman of the Hyundai Motor Group, said he recently met with Indonesian President Joko Widodo to solicit support from the Indonesian government for Hyundai's investment.
Meanwhile, Hyundai confirmed the meeting via Twitter "#Hyundai Motor Group’s Executive Vice Chairman (EVC) Euisun Chung met with President Joko Widodo of the Republic of Indonesia to discuss opportunities for cooperation. President Widodo mentioned offering full support when it enters the Indonesian market."
Among other things, the Antara News Agency reported that Luhut Binsar Pandjaitan, the coordinating minister for maritime affairs of Indonesia, had confirmed the date of signing the contract in November on the sidelines of the ASEAN summit. According to the minister, Hyundai has already secured the factory bases in Karawang.
According to "Business Korea" Hyundai also wants to transform a production facility in Chongqing, China into an electric car factory.
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