Jung Eui-sun Meets President Jokowi: "Actively Participating in Building Indonesia's EV Ecosystem"

Starting the Campaign to Target Indonesia, ASEAN's Largest Market

[Asia Economy Reporter Yoo Je-hoon] Chung Eui-sun, Chairman of Hyundai Motor Group, visited Jakarta, the capital of Indonesia, and pledged active cooperation in establishing a local electric vehicle (EV) ecosystem. This marks the official start of targeting the Indonesian EV market, the largest market within the ASEAN region.

On the 25th (local time), Chairman Chung attended the event "The Future EV Ecosystem for Indonesia" held at the Jakarta International Expo Convention Center, where he stated, "Hyundai Motor Group will revitalize the Indonesian EV ecosystem and actively participate and cooperate in developing charging infrastructure and technologies for used battery utilization so that related industries can become new future growth engines."

Hosted by the Indonesian government, this event unveiled Indonesia's future EV roadmap and eco-friendly policies. Key ministers from major Indonesian government departments, as well as Park Tae-sung, the Ambassador of Korea to Indonesia, attended.

At the event, Chairman Chung said, "Amid rapid changes in the automotive industry, diverse experiences and values inside the car are becoming increasingly important, and a swift transition to electrification for a clean global environment is required." He introduced, "Hyundai Motor Group is preparing to transform into a smart mobility solutions company to make customers' time more valuable and to realize free movement and peaceful lives for humanity."

He continued, "With the Indonesian government's interest and generous support, the construction of the (Hyundai) factory is progressing smoothly, with mass production of EVs scheduled for next year, and the groundbreaking ceremony for the EV battery production plant was successfully completed." He added, "We will grow together with Indonesia through various cooperation programs and social contribution activities, including collaboration with local partners and support for technology development."

Hyundai Motor Group's efforts to secure leadership in Indonesia's EV sector stem from Indonesia being the largest automotive market in ASEAN in terms of economy and population. The Indonesian government has shown strong commitment to proactive electrification and robust EV industry development.

In fact, the Indonesian government recently announced plans to allow sales only of electric motorcycles from 2040 and electric cars from 2050, implementing strong eco-friendly vehicle policies. Hyundai is also in the final stages of preparing mass production for its local factory in Indonesia, which will begin full operation early next year. In September, Hyundai Motor Group and LG Energy Solution held a groundbreaking ceremony for their battery cell joint venture factory.

Chairman Chung's remarks are interpreted as a plan to secure a leading position in the Indonesian EV market as an eco-friendly leading brand and, based on this, to expand the scope of attack to the Asia-Pacific EV market.

At the event, Chairman Chung also proposed cooperation with the Indonesian government to realize a hydrogen society. Given Indonesia's abundant renewable energy potential and Hyundai Motor Group's leadership in hydrogen utilization, joining forces to build a hydrogen ecosystem could provide future generations with a clean and sustainable environment. Additionally, Chairman Chung expressed Hyundai Motor Group's readiness to participate not only in the new administrative capital project promoted by the Indonesian government but also in Indonesia's future businesses.

Meanwhile, prior to the main event, Indonesian President Joko Widodo toured EV-related exhibits with Chairman Chung, including the Ioniq 5 and G80 electrified models, Hyundai Motor Group's ultra-fast charger ‘E-Pit’, and the EV-dedicated platform ‘E-GMP’.