Hyundai Motor to build US$ 1.55 bil. production plant in Indonesia

Hyundai Motor to build US$ 1.55 bil. production plant in Indonesia

in other news South Korean carmakers
Hyundai Motor will invest more than one-and-a-half billion dollars in new
factory in Indonesia to target the Southeast Asian market that’s currently
dominated by Japanese carmakers the new plan too will allow Hyundai to avoid
import tariffs in the ASEAN region and help secure future growth amid slowing
demand in the auto market our park se-young has more Hyundai Motor has
announced our building manufacturing plant in Indonesia they’ll be able to
produce 250,000 units a year this will be the car makers first car plant in
Southeast Asia and the deal comes amid a prolonged sales downturn in China the
new plant will be located in the Thomas Bekasi an industrial area 40 kilometers
east of Jakarta Hyundai Motor said will invest
approximately 1.5 billion US dollars in the new factory from now until 2030
including product development and operation costs the new facility will
break ground this December and will start producing in late 2021 with an
annual capacity of 150,000 vehicles Hyundai plans to gradually increase the
output volume to 250,000 units a year depending on market demand it plans to
produce small SUVs compact minivans and electric vehicles specifically designed
for the Southeast Asian market at the new plant by exploring new markets like
ASEAN largest auto market in Indonesia we will secure our future growth vehicles assembled at the Indonesian
plant will be exempt from import tariffs which range from 5% to 80% in the ASEAN
region the plant will cater to the automobile market in Southeast Asia
which is currently dominated by Japanese car makers and is expected to grow from
over 3 million units in 2017 to 4.5 million in 2026 Indonesia as the biggest
automobile market in the ASEAN region selling nearly 1.2 million vehicles last
year park se-young arirang news

8 Replies to “Hyundai Motor to build US$ 1.55 bil. production plant in Indonesia”

  1. K labors are cheaper, K currency is less than Japan's Yan, so Hyundai n Kia should do quite well n potential 2 exceed Toyota, CZ most everyone wants to pay-less n cars transport people is the major key factor! Majority people wants n needs that cars can transport n {key note, so call self driving is "NOTHING less than loads bull shets NOTHING less than sheer "fantasy for sure" CZ human behaviors are unpredictable, even I shake my head some times, and SUCH tight quarter in so many people in Indonesia, self-driving is farce beside NOTHING more than "enhanced cruise control" that NOT even applies to rest of the world roadways, THE ONLY wide and long road in the US is suitable, NO other nation on earth n as 4 electrical, place like Indonesia, NOT for at least 50 years or more. Those want, around 25 percent or half part of middle-class Indonesians are ONLY would consider purchasing those luxury cars like Japan Lexus, BMW, and all that German cars are too expensive as ultimately one is paying for German labor or living standard that will NOT be likely for at least 100 years PLUS for sure so K-vehicles and Kia SHOULD sell all types of trucks as well, N combine these two brands shall be winner for sure no doubt H-K cars are going to be THE NUMBER ONE car winner in Indonesia n how long takes is up to H and K makers give incentives, interests free financing, students n military, police n government n teachers n Indonesian National any sport team members dancers of all areas musicians, (all are mental food delivery to their societies), receive 20 percent discount once in their life n once a year sales, bla bla, sponsor every running, the most amount of people, events, etc., WHY did it take SO LONG to jump in? Again, luxury car buyers are NOT majority at all in Indonisia; given this cold fact essence, yes indeed, K cars should have very good potential to beat Japan's car sooner or later, only got knows when? USA

  2. What about Vietnam? Philphen nation is for public transports developments due to too many islands unless all that very heavy storms, rains, winds proof bridges are built with K-assistance only then driving cars are feasible, so concentrate in Vietnam, Thailand for now!

  3. Vietnam has too messy unorganized uncontrolled bikes motorcycles unless govt follows K road standards driving for average is years ahead plus GDP needs to grow more!

  4. Mitsubishi, toyota, isuzu, daihatsu, suzuki, honda, yamaha, Hino….they all have production plant in indonesia…soo if Hyundai want to compete with them hyundai must have production plant in indonesia too

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