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Grab, SoftBank Ready to Invest in Electric Car, Luhut Says

Translator

Ririe Ranggasari

Editor

Laila Afifa

21 February 2019 14:55 WIB

Coordinating Minister for Maritime Affairs Luhut Binsar Pandjaitan. TEMPO/Andita Rahma

TEMPO.CO, Jakarta - Coordinating Minister for Maritime Affairs Luhut Pandjaitan said that Grab is interested in investing in the electric car technology sector. The ride-hailing company, Luhut said, delivered their intentions to him directly.

"Grab wants to bring in billions of dollars in investment in electric car technology," Luhut said during an afternoon tea his office, Wednesday, February 20.

Grab CEO Anthony Tan met Luhut at the same office yesterday, February 19. In the meeting, Luhut said, Anthony said that Grab's investment would not be disturbed by political dynamics.

The electric car industry in Indonesia attracts many foreign investors, especially after the government plans to develop an integrated plant that focuses on developing electric cars and their ecosystems in Morowali.

Not only Grab, Japanese telecommunications company SoftBank is also interested in investing in the sector.  In fact, said Luhut, SoftBank leaders said they had asked for time to meet President Joko Widodo in March.

In addition to Grab and SoftBank, Luhut said that Korean automotive company, Hyundai, is also interested in investing in electric cars. On Wednesday, Hyundai held another meeting with Luhut.

The Industry Ministry has stated that Hyundai is ready to invest in building an electric car factory with a production capacity of 250,000 units per year. The company is preparing US$880 million for the project.

Dias Prasongko

 



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