Instagram Facebook Twitter
Search

Indonesia Leads The Way For Electric Vehicle Investment In ASEAN

According to an article published by Databoks, an economic and business statistical data portal, ASEAN countries received Foreign Direct Investment (FDI) in the electric vehicle industry to the tune of USD 25.57-billion from 2019 to 2022. This was reported by the ASEAN Secretariat in the ASEAN Investment Report released in September 2022.

“Despite the pandemic, automotive industry investors in ASEAN remain active, especially in the electric vehicle supply chain. Investment activities range from nickel mining and smelting , battery and electric vehicle production , as well as research and development of new infrastructure,” the report said.

During the 2019-2022 period, a total of USD 17.8-billion was invested in Indonesia’s EV industry, the most in ASEAN, followed by Thailand, Malaysia, the Philippines, and Singapore.

“Strong investment in the electric vehicle supply chain is expected to continue, given that most ASEAN member countries support the development of competitive ecosystems and markets, encourage adoption of electric vehicles, and target zero-carbon policies,” the ASEAN Secretariat said in its report.

The following are the details of FDI for the electric vehicle industry in ASEAN for the 2019-2022 period in order of the the total investment value, as posted by Databoks:

Indonesia

  • Foxconn (Taiwan): USD 8-billion
  • CATL (China): USD 5.2-billion
  • Toyota Motor (Japan): USD 2-billion
  • Hyundai Motor (South Korea): USD 1.5-billion
  • Hyundai Motor & LG Chem (South Korea): USD 1.1-billion

Thailand

  • Foxconn (Taiwan): USD 2-billion
  • Evlomo (United States): USD 1.06-billion
  • Ford (United States): USD 900-million
  • SAIC (China): USD 857-million
  • Mitsubishi Motors (Japan): USD 819-million
  • Toyota Motor (Japan): USD 741-million
  • Nissan (Japan): USD 367-million
  • Honda Motor (Japan): USD 136-million
  • Statutory Reserves (China): USD 71-million
  • FOMM (Japan): USD 1-million
  • Mercedes-Benz (Germany): USD 20-million
  • BMW (Germany): USD 16-million
  • Energy Efficiency Services (India): USD 5-million

Malaysia

  • SK Group (South Korea): USD 553-million
  • Toyota Motor (Japan): USD 65-million

Philippines

  • EN Plus (South Korea): USD 101-million

Singapore

  • Kymco (China): USD 30-million

Source: Databoks

Latest Post

Bali International Air Show 2024 Takes Off
Garuda TV are reporting that the Bali International Air Show (BIAS) 2024, the first international aerospace...
Industry Players Urge Strict Policing of New Construction Moratorium
According to reporting from Travel Trade Gazette (TTG) Asia, Bali’s proposed moratorium to temporarily...
Indonesia Wins Asia's Leading Adventure Tourism Destination
Indonesia has just won the title of Asia’s Leading Adventure Tourism Destination at the 2024...
Bali Urban Subway Project Breaks Ground
Jakarta Globe is reporting that Acting Governor, Sang Made Mahendra and Badung Regent, I Nyoman Giri...
Bali Named Asia's Most Romantic Destination
According to reporting from Tempo, Bali has been named Asia’s Most Romantic Destination at the 2024...

BaliExpat is being driven by Seven Stones Indonesia, a customer-centric company who believe in being authentic to deliver value to, and for, all stakeholders, to boost business growth and prosperity.

Instagram Facebook Twitter

Write for Us

Write Now

Navigation

Copyright © 2022 baliexpat.com | All Rights Reserved.

Andrzej Barski

Director of Seven Stones Indonesia

Andrzej is Co-owner/ Founder and Director of Seven Stones Indonesia. He was born in the UK to Polish parents and has been living in Indonesia for more than 33-years. He is a skilled writer, trainer and marketer with a deep understanding of Indonesia and its many cultures after spending many years travelling across the archipelago from North Sumatra to Irian Jaya.

His experience covers Marketing, Branding, Advertising, Publishing, Real Estate and Training for 5-Star Hotels and Resorts in Bali and Jakarta, which has given him a passion for the customer experience. He’s a published author and a regular contributor to local and regional publications. His interests include conservation, eco-conscious initiatives, spirituality and motorcycles. Andrzej speaks English and Indonesian.

Terje H. Nilsen

Director of Seven Stones Indonesia

Terje is from Norway and has been living in Indonesia for over 20-years. He first came to Indonesia as a child and after earning his degree in Business Administration from the University of Agder in Norway, he moved to Indonesia in 1993, where he has worked in leading positions in education and the fitness/ wellness industries all over Indonesia including Jakarta, Banjarmasin, Medan and Bali.

He was Co-owner and CEO of the Paradise Property Group for 10-years and led the company to great success. He is now Co-owner/ Founder and Director of Seven Stones Indonesia offering market entry services for foreign investors, legal advice, sourcing of investments and in particular real estate investments. He has a soft spot for eco-friendly and socially sustainable projects and investments, while his personal business strengths are in property law, tourism trends, macroeconomics, Indonesian government and regulations. His personal interests are in sport, adventure, history and spiritual experiences.

Terje’s leadership, drive and knowledge are recognised across many industries and his unrivalled network of high level contacts in government and business spans the globe. He believes you do good and do well but always in that order. Terje speaks English, Indonesian and Norwegian.

Contact Our Consultants

[wpforms id=”43785″]

Ridwan Jasin Zachrie

CFO of Seven Stones Indonesia, Jakarta

Ridwan is one of Indonesia’s top executives with a long and illustrious career in the financial world. He holds several professional certifications including being a Certified Business Valuer (CBV) issued by the Australian Academy of Finance and Management; Broker-Dealer Representative (WPPE); and The Directorship Certification for Directors and Commissioners, issued by the Indonesian Institute of Commissioners and Directors.

His experience includes being the Managing Director at one of the top investment banking groups in the region, the Recapital Group, the CFO at State-owned enterprises in fishery industry and the CEO at Tanri Abeng & Son Holding. He’s also been an Independent Commissioner in several Financial Service companies and on the Audit and Risk Committee at Bank BTPN Tbk, Berau Coal Energy Tbk, Aetra Air Jakarta as well as working for Citibank, Bank Mandiri and HSBC. His last position was as CFO at PT Citra Putra Mandiri – OSO Group.

Ridwan has won a number of prestigious awards including the Best CFO Awards 2019 (Institute of Certified Management Accountant Australia-Indonesia); Asia Pacific Young Business Leader awarded by Asia 21 Network New York USA (Tokyo 2008); UK Alumni Business Awards 2008 awarded by the British Council; and The Most Inspiring Human Resources Practitioners’ version of Human Capital Magazine 2010.

He’s a member of the Board of Trustees of the Alumni Association of the Faculty of Law, Trisakti University, Co-Founder of the Paramadina Public Policy Institute and actively writes books, publications and articles in the mass media. He co-authored “Korupsi Mengorupsi Indonesia” in 2009, which helps those with an interest in understanding governance in Indonesia and the critical issue of corruption. Ridwan speaks Indonesian and English.

Per Fredrik Ecker

Managing Director of Seven Stones Indonesia, Jakarta

Per is the Managing Director of the Seven Stones Indonesia (SSI) Jakarta office and has more than 25-years’ experience in Indonesia, China, and Western Europe. He previously worked in senior management positions with Q-Free ASA, Siemens AG, and other companies in the telecom sector. Over the last six years, he has been the Chairman of the Indonesia-Norway Business Council (INBC) and recently become elected to be on the board of EuroCham Indonesia.

His most recent experience is within Intelligent Transport Solutions (ITS), Telecom, and other sectors within the Indonesian market. He is today through his position in SSI and by representing Norway Connect, promoting Nordic and European companies that would like to explore business opportunities in the Indonesian market. He’s also playing an active role to help create the Nordic House concept in Jakarta that will provide an excellent platform for Nordic companies entering Indonesia, where they’ll find a community that can offer support with trusted information and affordable services to enter this market.