EV maker VinFast to invest $1.2B in Indonesia
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Vietnam’s first electric vehicle (EV) maker VinFast plans to build a plant with an investment capital of 18.6 trillion Rp (US$1.2 billion) in Indonesia, according to Presidential Chief of Staff of Indonesia Moeldoko.
Moeldoko told a press on Nov. 6 that the construction will begin as soon as possible. He, however, did not reveal further details of the plan.
Vinfast is one of the largest EV manufacturers in Southeast Asia, with its cars exported to Europe and America, the official said, adding its investment in Indonesia can help form an EV ecosystem in the country.
Indonesia’s media reported that in early September, Vinfast leaders had a meeting with Indonesian Trade Minister Zulkifli Hasan who pledged to facilitate the automaker’s operation.
Secretary General of the Association of Indonesia Automotive Industry (Gaikindo) Kukuh Kumara said in late October that Vinfast has discussed and expressed its willingness to join the association.
The manufacturer is completing necessary procedures with the Indonesian government before officially entering the country’s auto market, he said.
Questions & Answers
Q.What is the total planned investment amount by VinFast in Indonesia?
What is the total planned investment amount by VinFast in Indonesia?
VinFast plans to invest 18.6 trillion Indonesian Rupiah in Indonesia. This sum is equivalent to 1.2 billion US dollars, according to the Presidential Chief of Staff of Indonesia, Moeldoko.
Q.When is construction of the new VinFast plant in Indonesia expected to begin?
When is construction of the new VinFast plant in Indonesia expected to begin?
Presidential Chief of Staff Moeldoko stated on November 6 that construction of the plant is scheduled to begin as soon as possible. However, no further specific details about the timeline were provided.
Q.How might VinFast's investment benefit Indonesia's automotive sector?
How might VinFast's investment benefit Indonesia's automotive sector?
According to Presidential Chief of Staff Moeldoko, VinFast's investment in Indonesia could contribute to the development of an Electric Vehicle ecosystem within the country. This suggests a positive impact on the local industry.
Q.Has VinFast initiated any formal steps to join Indonesia's automotive industry association?
Has VinFast initiated any formal steps to join Indonesia's automotive industry association?
Yes, VinFast has discussed and expressed its willingness to join the Association of Indonesia Automotive Industry (Gaikindo). The manufacturer is currently completing necessary procedures with the Indonesian government.
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