JakartaGlobe-July 26

Japanese automotive giant Mitsubishi Motors Corporation, or MMC, has pledged $666 million in additional investment in Indonesia over the next three years as it seeks to expand its manufacturing activities to hybrid and electric vehicles production, the top economic minister said on Tuesday.

“MMC had invested Rp 11.3 trillion ($752.9 million) for all MMC factories in Indonesia by the end of 2021. The target is that MMC will invest around Rp 10 trillion from 2022 to 2025,” the Coordinating Minister for Economic Affairs Airlangga Hartarto said in a statement.  The minister made the comment after meeting Mitsubishi Motors Chief Executive Officer (CEO) Takao Kato in Tokyo on Tuesday. During the meeting, Mitsubishi Motors unveiled a pilot project for its battery electric vehicle (BEV) with four Indonesian companies next year. The project aimed to find a suitable use case for Mitsubishi’s Minicab MiEV, similar to the company’s L300, a commercial minibus or pickup already popular in Indonesia. President Joko “Jokowi” Widodo drives Mitsubishi’s Minicab MiEV at Gaikindo Indonesia Internasional Auto Show (GIIAS) 2021 in Tangerang, West Java on Nov 17, 2021. (Photo courtesy of Presidential Secretariat). Read more at: https://jakartaglobe.id/business/mitsubishi-pledges-666m-investment-tests-xev-use-in-indonesia