What’s Happening
Hyundai Mobis, an automobile parts subsidiary of Hyundai Motor Company, has begun building a new electric vehicle (EV) battery system plant in Indonesia, aiming for completion by the first half of next year. The groundbreaking ceremony for the facility took place in Bekasi, West Java, a suburban district of Jakarta, on the 31st, attended by an array of dignitaries, industry leaders, and journalists.
Why It Matters
Indonesia is set to serve as a strategic foothold for Hyundai Mobis’ expansion into the ASEAN market, a burgeoning hub for the EV industry. The Indonesian government, recognizing its natural resource wealth and the rapidly increasing demand for EVs in the ASEAN region, is accelerating its bid for dominance in the EV sector. As part of this move, Hyundai Mobis will leverage battery cells from HLI Green Power, a joint venture, to manufacture battery systems that include a controller and heat controller for global automakers.
Key Points
The new plant will be situated in the Deltamas industrial complex, roughly 60 km southeast of Jakarta and close to both Hyundai Motor Company’s Indonesian plant and HLI Green Power, enabling efficient battery system delivery. Hyundai Motor Group is investing a total of USD 60 million in this initiative, targeting initial supply of battery systems to flagship EV models due for launch in Southeast Asia next year.
Bottom Line
This strategic development places Hyundai Mobis at the epicenter of the EV ecosystem, linking major continents such as Asia, Europe, and North America, thus enhancing their capacity to serve the burgeoning EV market. The Indonesian Government’s active support for this venture aligns with their policy to bolster the local EV market and the ecosystem. This demonstrates a shared vision between the government and Hyundai Mobis in shaping the future of EV technology.
