Hyundai Motor’s expansion to Asia Pacific may get boost from G20 Bali summit Korean automaker’s Genesis G80 model to be used for VIP movement during event
Translated by Ryu Ho-joung 공개 2022-01-05 08:11:24
이 기사는 2022년 01월 05일 08:07 thebell 에 표출된 기사입니다.
Hyundai Motor Group seeks to expand its foothold in the Asia-Pacific market as part of its goals for this year, with the G20 summit – which is to be held in Bali, Indonesia, in October 2022 – likely to provide the South Korean automobile conglomerate with an opportunity to show off its high-end electric vehicle model to consumers in the largest ASEAN nation.In October last year, the Indonesian government announced that it had selected Hyundai Motor’s Genesis Electrified G80 as the official VIP vehicles for the G20 summit which will be held in Bali this year.
Hyundai Motor formed a task force consisting of about 30 employees for this project at the end of last year, according to sources. The team is led by Lee Young-taek, head of the company’s Asia-Pacific headquarters.
The announcement that G80 would be used for VIP movement in the tourist town was made during the "Future EV Ecosystem for Indonesia" event in Jakarta, which was attended by Chung Eui-sun, Hyundai Motor Group’s chairman. He met with President Joko Widodo there to discuss the conglomerate’s plans to help the country’s shift to electric vehicles.
“We will make efforts to vitalize Indonesia's electric vehicle ecosystem and participate in infrastructure development to help related industries grow as future growth drivers," Chung said in his speech at the event.
Indonesia has been active in adopting policies for carbon reduction, with the Southeast Asian country aiming to sell only electric-powered motorcycles by 2040 and electric cars by 2050.
Hyundai Motor, which plans to start local production there, is expected to benefit from the country’s carbon-neutral pledge. It is seeking to grab a share from Japanese automakers, which dominate the Indonesian market for combustion engine cars with a combined 90% share.
Hyundai Motor has made a good start, with its two electric vehicle models launched in Indonesia in November 2020 accounting for 88% of the total electric cars sold there from January to September in 2021, which stood at 534 units. Its electric vehicle sales are likely to increase as the country’s shift to sustainable mobility accelerates.
Hyundai Motor’s plant in Kota Deltamas will be ready for operations soon. The automaker also partnered with LG Energy Solution last year to build a joint battery cell factory for electric vehicles in Indonesia.
The company’s Asia-Pacific headquarters was also moved from Malaysia to Indonesia. That was "to locate the headquarters and the manufacturing factory in the same country,” an official at Hyundai Motor said. (Reporting by Su-jin Yoo)
< 저작권자 ⓒ 자본시장 미디어 'thebell', 무단 전재, 재배포 및 AI학습 이용 금지 >
관련기사
best clicks
최신뉴스 in 전체기사
-
- 경남제약 품는 휴마시스, 유통네트워크·진단키트 '시너지'
- [Company Watch]글로벌텍스프리, 프랑스 자회사 '적자 전환'
- [Red & Blue]'주목도 높아지는 폐배터리' 새빗켐, 침묵 깨고 반등
- [HLB '리보세라닙' 미국 진출기]시장 우려 불식 나선 진양곤, 갑자기 마련된 기자회견
- 효성화학 특수가스 사업부, '경영권 지분 매각'으로 선회
- 한양, 만기도래 회사채 '사모채'로 차환한다
- 동인기연, 'GS 출신' 30년 베테랑 전호철 상무 영입 '성장 방점'
- 에스트래픽, 적자 '일시적 현상'... 2분기 수익개선 기대
- [Company Watch]'자회사 회생신청' 투비소프트, 성과 없는 신사업
- '크라우드 펀딩' 와디즈, '테슬라 요건' 상장 추진