Hyundai Motor Group has teamed up with LG Energy Solution to build an electric vehicle (EV) battery cell manufacturing joint venture (JV) with US$1.1bn investment in Indonesia. LG Energy, The Hyundai battery partnership will boost Indonesia strategic presence in EV market.
Indonesian Auto Production and Domestic Consumption Trending Upward
Indonesia represents the second largest car manufacturing nation in Southeast Asia and the ASEAN region, but increased production and rising domestic sales could narrow the margin.