BYD plans to hold a groundbreaking ceremony for a factory in Indonesia this July, a senior local official said.
(Image credit: CnEVPost)
BYD (HKG: 1211, OTCMKTS: BYDDY) will begin commercial production of electric vehicles (EVs) in Indonesia in 2026, a senior minister in the Southeast Asian nation said.
Luhut Panjaitan, coordinating minister of maritime affairs and investment, said in a post on its Instagram account yesterday that BYD plans to hold a groundbreaking ceremony for its factory in Indonesia this July.
BYD has shown great enthusiasm for investing in Indonesia and aims to have the manufacturing plant start commercial production in the country by early 2026, Panjaitan said.
BYD plans to invest $1.3 billion to build the plant with a capacity of 150,000 vehicles, Indonesia's Chief Economy Minister Airlangga Hartarto said in January, according to a Reuters report on January 18.
BYD is on track to build the facilities on schedule later this year and will establish a local sales network of up to 50 dealerships by the end of 2024, the report quoted BYD Indonesia President Eagle Zhao as saying.
BYD has been providing its fleet of electric buses and cabs through local partners in Indonesia, delivering its first 30 BYD buses on March 8, 2022 to Transjakarta, a public transit operator in Jakarta.
In March 2023, Indonesia's BYD electric bus distributor, VKTR Group, delivered 22 electric buses, the K9, to local bus company Mayasari, the second batch it delivered there.
In May 2023, Blue Bird, Indonesia's largest cab operator, said it would buy 80% of its electric vehicles from BYD.
On January 18, BYD launched the Seal sedan, Dolphin hatchback, and Atto 3 SUV in Indonesia.The Atto 3 is called the Yuan Plus in China.
BYD launches 3 EV models in Indonesia, plans to build local plant
