Hyundai Motor Group has taken a significant step toward establishing its EV leadership in Southeast Asia by completing the construction of a massive $1.1 billion EV battery plant in Indonesia. This state-of-the-art facility, located in the regency of Karawang, is a joint venture with LG Energy Solution and boasts an impressive annual production capacity of 10 gigawatt-hours. That's enough to power approximately 150,000 electric vehicles (EVs) each year.

 Key Highlights:

1. Largest EV Battery Factory in Southeast Asia: The Indonesian plant is now the largest EV battery factory in the region, positioning Hyundai as a major player in the rapidly growing EV market.

2. Locally Manufactured Kona Electric SUV: Hyundai is set to launch a locally manufactured Kona Electric SUV in the Indonesian market on July 17. This SUV will be powered by batteries produced at the new facility.

3. NCMA Lithium-Ion Cells: The factory will manufacture NCMA (nickel, cobalt, manganese, and aluminum) lithium-ion cells, which are crucial components for EV batteries.

4. Indonesia's Rich Natural Resources: Indonesia, with its abundant natural resources, including the largest nickel reserves globally, is strategically positioned for EV battery production.

5. Government Support for EVs: The Indonesian government's commitment to achieving carbon neutrality by 2060 has led to generous incentives and tax exemptions, attracting investment in the EV sector.

6. Hyundai's Market Dominance: Hyundai is already the No. 1 EV maker in Indonesia, accounting for 44% of the market share with 7,475 EVs sold last year.

7. Ioniq 5 and Kona Electric: The Kona Electric will be the second EV model manufactured in Indonesia, following Hyundai's Ioniq 5.

In summary, Hyundai's investment in Indonesia's EV industry not only benefits the local market but also offers economic opportunities for the entire continent. With its commitment to sustainability and cutting-edge technology, Hyundai is driving the future of mobility in Southeast Asia.