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BYD plans to invest US$1.3 billion in Indonesia to build an automobile factory with an estimated production capacity of 150,000 vehicles. Indonesia’s Coordinating Minister for Economic Affairs revealed the news but did not provide details. BYD has just launched SEAL, Atto 3 and Dolphin models in Indonesia.
PT BYD Motor Indonesia executives said that they will start building the factory later this year and plan to establish 50 sales outlets in Indonesia by the end of 2024. A BYD spokesman did not comment on the investment amount. The move marks BYD’s efforts to expand its presence in the Indonesian market.
(Source: enanyang Image source: freepik)
