Hyundai Tight-lipped about Investment Plans in Indonesia

Translator

Ririe Ranggasari

Editor

Laila Afifa

Jumat, 15 November 2019 14:47 WIB

TEMPO.CO, Jakarta - Hyundai Mobil Indonesia (HMI) is refraining from revealing much about their plan to sign Hyundai Motors investments at the end of this month. The company asked the public to wait for the official announcement.

HMI deputy marketing director Hendrik Wiradjaja said he had received information related to the government's statement that he would travel to Korea at the end of this month to meet with Hyundai.

"I can't comment yet. Soon, just wait a little," he wrote to Bisnis Indonesia, Thursday, November 14th.

Earlier, Coordinating Minister for Maritime Affairs and Investment Luhut B. Pandjaitan said Indonesia would sign an investment partnership agreement with Korean corporations, including Hyundai, for the electric car industry. The investment is worth around US$1 billion.

Hyundai is said to plan on building an electric car factory in Karawang, West Java, on an area of 600 hectares.

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