Indonesia Signs Memorandum of Understanding with BYD to Explore Electric Vehicle Investment Opportunities
INTI- Shenzhen, China - On Thursday (May 25, 2023), the Coordinating Minister for Maritime Affairs and Investment, Luhut B. Pandjaitan, attended the signing of a Memorandum of Understanding (MoU) between the Republic of Indonesia and the electric vehicle giant BYD in Shenzhen, China. The signing aimed to explore investment potentials between Indonesia and China, particularly in the field of electric vehicles.
The MoU signing was conducted by the Deputy Coordinator for Transportation and Infrastructure of the Coordinating Ministry for Maritime Affairs and Investment, Rachmat Kaimuddin, and the General Manager of BYD's Asia Pacific Auto Sales Division, Liu Xueliang. In addition to Minister Luhut, the Founder and CEO of BYD, Wang Chuanfu, was also present to witness this historic milestone at BYD's headquarters in Shenzhen, China.
"The signing of this MoU reflects the importance of future steps in realizing the ambition for electric vehicles in Indonesia. We want to develop the electric vehicle ecosystem in Indonesia to become the largest automotive market in Southeast Asia, and we appreciate BYD's initiative to further explore these opportunities. With abundant natural resources, a strategic geographic location, and government support, I believe Indonesia has the key ingredients to develop the domestic electric vehicle industry," stated Minister Luhut.
BYD is currently the global leader in the electric vehicle market, with a rapidly expanding presence in Asia and Europe. In 2022, BYD set a record with a total global sales of 1.85 million units, experiencing a significant surge from 593,745 units sold in 2021. Since its establishment in 1995, BYD has expanded its operations to over 50 countries and employs more than 220,000 people worldwide.
"By leveraging Indonesia's strengths and embracing the transition to electric vehicles, we can pave the way for new economic growth, job creation, and sustainable development," added Minister Luhut.
"Together with international partners like BYD, we can position Indonesia as a leading player in the global electric vehicle stage, while driving Indonesia's transformation towards a cleaner and greener future," he concluded. ***. Hans
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