Indonesia to Produce Electric Vehicles
Targets 2022 to Start EV Production Source: Toyota Electric Concept Car Big Automakers Investing Indonesia plans to start producing electric vehicles by 2022. Companies like Toyota and Hyundai are expressing interest in building EV plants. In fact, Toyota has committed to investing $2 billion over the next five years. Part of the money will be used for electric vehicle production. Rich Resources for EVs Indonesia has the opportunity to exploit the country's rich supply of nickel laterite ore, that's used to make lithium batteries. The country is offering tax holidays for companies funding electric vehicles. Indonesia is already Southeast Asia's 2nd largest car production center. The government is aiming to have electric vehicles at 20% of their national car production by 2025.