Indonesia Says BYD to Invest $1.3 Billion to Boost Output
- EV giant is looking to bolster manufacturing in Southeast Asia
- Indonesia wants to shift from commodity exporter to EV hub
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China’s BYD Co., the world’s largest maker of electric vehicles, will invest $1.3 billion in Indonesia, including in a production facility, according to a senior government official.
The manufacturing plant will have a capacity of 150,000 units, Indonesia’s Coordinating Economic Minister Airlangga Hartarto said in Jakarta on Thursday, citing talks with company executives. He didn’t give further details in the comments he made at a BYD event to mark the firm’s entry into the Indonesian market. It’s just launched three EV models: SEAL, Atto 3 and Dolphin.