VinFast, Electric Vehicle Manufacturer, Plans $1.2B Investment in Indonesia

According to Moeldoko, the Presidential Chief of Staff of Indonesia, VinFast, Vietnam’s first electric vehicle (EV) manufacturer, intends to invest $1.2 billion in Indonesia to establish a plant. The construction of the plant is expected to commence at the earliest opportunity, although specific details regarding the plan have not been disclosed.

VinFast, recognized as one of the leading EV manufacturers in Southeast Asia, currently exports its cars to Europe and America. The investment in Indonesia is seen as a significant step in fostering an EV ecosystem within the country. Reports from Indonesian media indicate that VinFast leaders held a meeting with Indonesian Trade Minister Zulkifli Hasan in early September, during which the minister pledged to support the automaker’s operations.

Kukuh Kumara, the Secretary General of the Association of Indonesia Automotive Industry (Gaikindo), stated in late October that VinFast has expressed its interest in joining the association and is in the process of completing necessary procedures with the Indonesian government to officially enter the country’s auto market.