JakartaGlobe-July 28
Toyota Motor Corporation, the largest car company in the world, plans to increase its investment in Indonesia over the next five years to tap into the Southeast Asian country’s burgeoning electric vehicle industry. Shigeru Hayakawa, the vice chairman of the board of directors of Toyota Motor Corporation told Coordinating Minister for Economic Affairs Airlangga Hartarto when they met Tuesday that the company would invest Rp 27.1 trillion ($1.8 billion) until 2027.The company has invested Rp 14 trillion in Indonesia since 2019 after President of Toyota Motor Corporation Akio Toyoda promised $2 billion, or Rp 29.9 trillion, in investments between 2020 and 2025 to President Joko “Jokowi” Widodo at their meeting Osaka Summit that year. “We hope that with this increase in investment in Indonesia, the Indonesian government will understand our seriousness towards the electrification of motorized vehicles,” Hayakawa said. Airlangga welcomed Toyota’s plan for a larger investment in electric vehicle development in Indonesia. In the meeting, Hayakawa and Airlangga also discussed Toyota’s initiatives to improve Indonesian engineer capabilities. Toyota Indonesia and technicians from Indonesia also developed the Kijang Innova BEV concept to study technology and conditions to prepare for more tangible use by people in Indonesia. Read more at: https://jakartaglobe.id/business/toyota-to-increase-ev-investment-in-indonesia
