Auto Research Institute Promotes Electric Vehicle Ecosystem Activation in Indonesia
[Asia Economy Reporter Kiho Sung] The Korea Automotive Technology Institute is partnering with the Indonesian Automotive Research Institute to establish the foundation for Indonesia's electric vehicle industry and revitalize its ecosystem.
On the 23rd, the Korea Automotive Technology Institute announced that Na Seung-sik, the institute's director, and Made Dana Tangkas, head of IOI, signed a Memorandum of Understanding (MOU) on strengthening cooperation in electric vehicle industry technology at the Korea-Indonesia Business Forum held on the 22nd (local time) at the Borobudur Hotel in Jakarta, Indonesia.
Specifically, they agreed to promote ▲ establishing the foundation for expanding electric vehicle distribution in Indonesia ▲ cooperation in joint technology development in the electric vehicle sector ▲ activation of technical personnel exchanges ▲ cooperation in policy improvements to enhance competitiveness in the electric industry.
Although the electric vehicle sales rate in Indonesia is less than 1% of new car sales (1.12 million units last year), the Indonesian government is strengthening efforts to expand electric vehicle distribution, including tax reforms to improve investment conditions for electric vehicles.
In particular, Hyundai plans to begin mass production and local sales of the electric vehicle ‘Ioniq 5’ in the first half of this year at its completed vehicle factory built in the Bukasi Deltamas Industrial Complex in Indonesia, the first in the Southeast Asia region.
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Na Seung-sik, director of the Korea Automotive Technology Institute, emphasized, “We will faithfully implement the MOU contents such as joint technology development and activation of personnel exchanges to create an ecosystem for Indonesia’s electric vehicle industry and establish a foundation for revitalizing electric vehicle distribution,” adding, “We expect this to serve as a stepping stone for domestic electric vehicle parts companies to enter the Indonesian and ASEAN markets.”
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