Aya Lin · · 1 min readIn brief: Toyota to invest $2b to develop electric vehicles in Indonesia
- Toyota plans to invest US$2 billion to develop electric vehicles in Indonesia starting with hybrid vehicles, Reuters reported, citing the country’s coordinating ministry for maritime affairs.
- “From 2019 to 2023, we will progressively increase our investment to 28.3 trillion rupiah (US$2 billion),” said Toyota president Akio Toyoda, according to a statement released by the ministry.
- Toyota previously said that it aims for half its global sales to be from electric vehicles by 2025, and it plans to tap the Chinese battery makers to meet that goal.
Editing by Dante Gagelonia
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