Toyota ready to invest IDR28.3 trillion: minister

Toyota ready to invest IDR28.3 trillion: minister

Minister of Industry, Airlangga Hartarto. (ANTARA / Bayu Prasetyo / aa)

Jakarta (ANTARA) - Minister of Industry Airlangga Hartarto said that the Japanese automotive company, Toyota, is ready to disburse funds amounting to Rp28.3 trillion over the next four years.

The Toyota investment plan is related to the new government policies, which encourage the development of electric vehicles.

"Well, that will be listed in the two government's regulations. First, regarding the acceleration of electric-based vehicles, and the second is regarding activities related to PPnBM for electric-based industries, which include hybrids," Airlangga said in a statement received in Jakarta on Thursday.

According to Airlangga, the PPnBM will be zero if the vehicles produced are based on electricity and the emissions are the lowest.

President of Toyota Motor Corporation, Akio Toyoda, in the one-on-one meeting session, said that Toyota will develop electric-based vehicles, especially hybrids, in Indonesia.

The Minister of Industry said that the Ministry of Industry together with one of the Japanese automotive manufacturers had conducted a study of the development and use of electric vehicles. This activity also involved six universities in Indonesia.

"From the results of the study, hybrids are seen as an alternative because of the well to wheel, where the ecosystem generation of energy is also seen, starting from primary energy to the driving of the automotive," he said.

The Ministry of Industry itself encourages the development of domestic electric vehicle technology, including the making of fuel cells.