Chinese electric vehicle maker to build plant in Indonesia
China's leading electric vehicle maker PT BYD Motor plans to build an IDR11,700 billion ($754 million) plant in Indonesia, with a capacity of 150,000 EVs per year, a local official said on Wednesday.
This investment not only serves as proof of BYD's trust in the Indonesian market's potential but also strategically strengthens Indonesia's position as a center for EV manufacturing on the global and regional scale, said acting director general of Metal, Machinery, Transportation Equipment and Electronics at the Indonesian Ministry of Industry Putu Juli Ardika.
BYD successfully sold 2,000 units of EVs in Indonesia from June to September.
Andy Lin, BYD’s administration director, said BYD will launch more EV models in Indonesia and introduce plug-in hybrid (PHEV) models.
It will also integrate top-notch automotive manufacturing capabilities in Indonesia with new state-of-the-art technology to support Indonesia’s automotive industry chain.
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Energy - Thu, October 17, 2024 | 2:19 pm GMT+7
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Companies - Thu, October 17, 2024 | 1:25 pm GMT+7
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Economy - Thu, October 17, 2024 | 10:04 am GMT+7
Thailand creates favourable condition for cross-border tourism
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Southeast Asia - Thu, October 17, 2024 | 9:09 am GMT+7
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Southeast Asia - Thu, October 17, 2024 | 9:08 am GMT+7
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Companies - Thu, October 17, 2024 | 9:00 am GMT+7
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Companies - Thu, October 17, 2024 | 8:19 am GMT+7
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Banking - Wed, October 16, 2024 | 11:01 pm GMT+7
S Korean firms seek to join high-speed railway, LNG-fired power projects in Vietnam
Many South Korean businesses seek to join strategic infrastructure projects in Vietnam, including high-speed railways, LNG-fired power plants, and nuclear power factories, said Yoon Suk Yeol, special advisor on foreign affairs and security to the South Korean President.
Infrastructure - Wed, October 16, 2024 | 5:17 pm GMT+7
$2.4 bln coal-fired power plant in central Vietnam to connect with national grid in Dec
The 1,320-MW Vung Ang II thermal power plant, with an investment of $2.4 billion, is set to run its first turbine in late October and connect the turbine to the national grid in December.
Energy - Wed, October 16, 2024 | 4:57 pm GMT+7
Vietnam set to continue growing fastest in ASEAN-6 in 2025: HSBC
Vietnam is forecast to deliver the highest GDP growth among the six biggest Southeast Asian economies this year and next year thanks to rising foreign investment, robust exports, and improving domestic demand, says an HSBC economist.
Economy - Wed, October 16, 2024 | 4:46 pm GMT+7
HCMC project management board director arrested for accepting bribes
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Society - Wed, October 16, 2024 | 4:03 pm GMT+7
Finland’s Wartsila to help Vietnam with flexible internal combustion engine technology
Finnish firm Wartsila can facilitate Vietnam’s energy transition by providing its flexible internal combustion engine (ICE) technology, says vice president Frederic Carron.
Energy - Wed, October 16, 2024 | 3:39 pm GMT+7
Impending collapse document fake, says Vietnam private lender Eximbank
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Companies - Wed, October 16, 2024 | 2:07 pm GMT+7
Phu My fertilizer wins Vietnam’s golden brand award
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Companies - Wed, October 16, 2024 | 1:32 pm GMT+7
Unusual weather to hamper economic activities in Southeast Asia
Southeast Asia is likely to see higher-than-normal rainfall in the coming months which could further disrupt agriculture, tourism, and industrial output in a region already hit by a series of typhoons this year.
Southeast Asia - Wed, October 16, 2024 | 1:18 pm GMT+7