ASIATODAY.ID, JAKARTA – Vietnamese car manufacturer Vinfast started building an electric car factory in Subang, West Java, on Monday, July 15 2024. The company disbursed initial funding of US$ 200 million starting this year.
“This includes a right-hand drive assembly specifically designed for the Indonesian market,” said Vingroup Chairman’s Senior Advisor and CEO of Vgreen Global Charging Station Jsc, Nguyen Duc Thanh in Subang, West Java, Monday, July 15 2024.
President Indonesia, Joko Widodo (Jokowi) previously said that the investment potential of Vietnamese automotive manufacturer VinFast was US$ 1.2 billion in Indonesia. The funds are to build an electric car factory and is targeted for production in 2026. According to Jokowi, the construction of the VinFast electric car factory will strengthen the national electric vehicle ecosystem.
“VinFast’s investment in Indonesia is worth US$ 1.2 billion in the electric car sector with a target of being in production by 2026. I hope VinFast collaborates with entrepreneurs and researchers in Indonesia,” said Jokowi during a dialogue with Vietnamese investors, Saturday, January 13 2024.
Meanwhile, the Vinfast factory stands on an area of more than 100 hectares. The VinFast factory capacity reaches 50 thousand units per year with a target of absorbing a workforce of 1,000 to 3,000 people. VinFast schedules this factory to start operating in the fourth quarter of 2025 to produce right-hand drive electric cars.
VinFast production facilities will include several main production areas such as Body Shop, General Assembly Shop, Paint Shop testing area, and others. This production facility is considered very strategic because it is close to the port.
In Indonesia, VinFast has introduced the VF e34 and VF 5. VinFast is a car brand developed by Vietnam’s largest real estate company, Vingroup.
Vingroup targets to produce 500 thousand vehicles in Vietnam by 2025. VinFast doesn’t just want to be responsible in the disposal of its EV batteries.
They saw a huge business opportunity in BESS (Battery Energy Storage Systems), a rapidly growing billion-dollar industry. (AT Network)
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