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Foreign company to build electric motorcycle plant in RI this year: Govt
The investment and mining undersecretary told reporters on Thursday that a foreign EV company would break ground on a local factory "in the second or third quarter” this year, but declined to name the company due to ongoing talks.
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Septian Hario Seto, investment and mining undersecretary at the Office of the Coordinating Maritime Affairs and Investment Minister, speaks to reporters on Feb. 29, 2024 after a panel discussion at a CNBC Indonesia event in Jakarta. (JP/Deni Ghifari)
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foreign company is planning to build a factory for electric two-wheelers in Indonesia this year, according to an official with the Office of the Coordinating Maritime Affairs and Investment Minister.
Septian Hario Seto, investment and mining undersecretary, said the investment value “was not that great”, but indicated a ballpark figure of “hundreds of millions” of dollars.
“I believe this [investment] will make competition [in Indonesia] more interesting,” Seto told reporters on Thursday evening in Jakarta, on the sidelines of an event organized by CNBC Indonesia.
Groundbreaking on the factory would take place this year “in the second or third quarter”, he said, but declined to name the company, citing ongoing talks on the investment deal.
“When it comes to [electric] motorcycles, the masters are from either China or India. My view is, their motorcycle quality has been put to the test,” Seto said in response to reporters’ questions.
Rachmat Kaimuddin, the office’s transportation and infrastructure undersecretary, also declined to name the foreign company.
“With motorcycles, it’s very rarely a European [manufacturer]. [Electric] motorcycles normally come from China or India,” he told reporters at the same event.
