Hence, speaking in connection with the regulation, started in 2019 until the next two years, the minister appealed to investors to build car component manufacturing facilities in Indonesia.
Before the regulation is implemented, the government has allowed carmakers to import completely build-up electric vehicles to the country, Hartanto remarked after attending a meeting with President Joko Widodo at the Merdeka Palace.
Up until today, the minister explained that three to four manufacturers will begin manufacturing electric vehicles in 2020.
For instance, in June 2019, Toyota Motor Corp, a Japanese carmaker giant, planned to invest $2 billion, or equivalent to Rp28.3 trillion, on the development of electric and hybrid vehicles in Indonesia from 2019 to 2023.
On the similar lines, a South Korean carmaker Hyundai Motor Co. will also seek to invest in the electric car industry in Indonesia.
In the meantime, another Japanese carmaker Mitsubishi announced in mid-2018 that it would support the Indonesian government to launch research on the development of electric vehicles in the country. Related news: President expected to sign regulation on electric cars this week
Related news: Bakrie teams up with Chinese investor to build electric cars