Hyundai will build its first factory in Indonesia

Hyundai will build its first factory in Indonesia

November 29, 2019 0 By autotimesnews

The Korean company has signed an agreement with the government of Indonesia.

Hyundai Motor Concern and the Indonesian government have signed an agreement to build a plant on the island of Java. The amount of investments that will be allocated to the new enterprise until 2030 will amount to $ 1.55 billion.

The new plant will be located 40 km from Jakarta, and its construction will be completed in 2021. The products will be delivered to other countries of Southeast Asia, including Australia and the Middle East. Initially, the plant’s capacity will be approximately 150 thousand cars per year, and by 2030 the figure will reach 250 thousand cars per year.