The Korean company signed an agreement with the government of Indonesia.
Automaker Hyundai Motor and the Indonesian government signed an agreement on construction of a factory on the island of Java. The amount of investment that will be allocated to a new plant by 2030 will amount to 1.55 billion dollars.
The new plant will be located 40 km from Jakarta, and its construction will be completed in 2021. The products will be shipped to other countries in Southeast Asia, including Australia and the middle East.
Initially the plant’s capacity will be approximately 150 thousand cars annually, and by 2030 the figure will reach the mark of 250 thousand cars a year.