Toyota Invests Billions for the Development of Electric Vehicles in Indonesia

9 December 2020 13:02 WIB

TEMPO.CO, Jakarta - Toyota Motor Corporation Asia Region CEO Yoichi Miyazaki on Tuesday announced the company’s plan to push for sustainable automotive development in Indonesia with one of them being plans to develop and produce electric vehicles up to the year 2025. 

The Toyota Motor Corp had invested up to US$2 billion for the next five years, which is equivalent to Rp28.3 trillion in the current exchange value. 

The Japanese automotive giant has also committed to backing the Indonesian government’s attempts in reducing emissions and oil imports for internal combustion engine (ICE) vehicles. Toyota has also prepared at least 10 electric car models for Indonesian consumers. 

In a virtual meeting with the Coordinating Minister of Economics Airlangga Hartarto, Yoichi Miyazaki explained that Toyota is committed to support Indonesia’s B30 fuel policy and predicts a drop in fuel consumption up to 126 million liters by the year 2025.

Also Read: BYD, Toyota to Set-up Research Venture to Develop EV

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