TEMPO.CO, Jakarta - Hyundai Indonesia has proceeded with Southeast Asia's first electric car or EV battery factory development in the Greenland International Industrial Central (GIIC) area in Cikarang, Bekasi, West Java.

The factory will be utilized to assemble battery cells into an integrated unit, making them ready to use for electric cars. It will be built on a 32,188 meter square land with an investment value of US$60 million and over 150 workers.

This development was the result of a collaboration between Hyundai Motor Manufacturing Indonesia and Hyundai Mobis of Hyundai Motor Group. The factory will be called Hyundai Energy Indonesia.

Chief Operating Officer of PT Hyundai Motors Indonesia (HMID) Fransiscus Soerjopranoto stated that the factory will start operating in 2024. "The battery factory is in progress and is scheduled to be inaugurated in 2024. Our battery capacity will increase from 20,000 to 70,000 with more variants," he said during Tempo Energy Day on Tuesday, Nov. 21.

Additionally, Soerjo explained that the factory will export its electric car batteries to 14 countries. "Asian countries of course, as well as China and its surrounding countries such as Hong Kong. There are approximately 14 countries in total," he said.

The existence of local batteries is estimated to lower the prices of the Hyundai Ioniq 5 and Ioniq 6. However, Soerjo did not provide further details on this information.

"In every investment, there is a depreciation calculation, and after the depreciation is gone the prices will lower. For now, we are still calculating the percentage," Soerjo concluded.

ERWAN HARTAWAN

Editor's Choice: 3 Companies to Open EV Battery Plants in Indonesia Starting Next Year

Click here to get the latest news updates from Tempo on Google News