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Hyundai to open car plant in Indonesia, to build EVs: minister

The Korean company, which together with affiliate Kia Motors (000270.KS) is the world’s No.5 automaker, plans to build a factory in Indonesia with a capacity of around 250,000 units, including for electric cars, Harjanto told Reuters.

Indonesia has ample reserves of nickel laterite ore, a vital ingredient for the lithium-ion batteries used to power EVs.

The minister noted the plan was to export 53 percent of the cars manufactured in the proposed Hyundai plant, mostly to Southeast Asia and Australia, while the remaining 47 percent would be for the domestic market.

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