Jakarta, IO – VinFast, one of the largest car manufacturers in Vietnam, plans to build an assembly plant in Indonesia. The investment value reached US$200 million (Rp3 trillion).
For long-term projects, VinFast recently announced an investment of US$1.2 billion (Rp18 trillion) in the Indonesian market, per CNBC Indonesia Wednesday (27/9).
The assembly line is forecast to start operating in 2026 with the capacity to produce up to 50,000 cars per year.
“We plan to start deliveries of our electric vehicles in Indonesia in 2024 with right-hand drive models VF e34 and VF 5, then VF 6 and VF 7,” the company said. “We have also identified Indonesia from our seven new market clusters as a key potential market for the establishment of our electric vehicle and battery manufacturing facilities.”
Apart from Indonesia, this electric vehicle manufacturer also plans to expand to a number of other Asian markets such as India and Malaysia.
Indonesia’s FDI recorded a significant increase since 2004. In September, the country received two large FDI projects from Sichuan Hebang Biotechnology and PepsiCo.
In a press statement released by Sichuan Hebang, the company plans to invest US$800 million (Rp12 trillion) to build a chemical production hub. Meanwhile, PepsiCo pledged to invest US$200 million (Rp3 trillion) to open a new snack factory. (un)