Hyundai's Indonesian factory has over 100% capacity utilization rate, with abundant population and nickel reserves making it a major EV production base - Korea

Hyundai Motor announced that its Indonesian plant had a production capacity of 20,300 units in the January-March period of 2024, with actual production of 22,520 units, resulting in an operating rate of 110.9%.
The rate will be the highest among overseas factories, excluding the Korean factory, where it is 114.9%. Prior to this, the company completed construction of a finished vehicle factory in Bekasi, Indonesia in 2022. Annual production volume in 2023
The plant will have a production capacity of 120,000 units and will be the company's first electric vehicle (EV) factory in the Association of Southeast Asian Nations (ASEAN) region.
The occupancy rate for 2023 is expected to increase from 50.3% in the January-March period to 63.6% in the October-December period.
It exceeded 100% for the first time in the January-March period. The company plans to expand its annual production to 250,000 units in the future. Indonesia's population is now 270 million, the fourth largest in the world.
Lee has the world's largest reserves and mining volume of nickel, which is the main material of the company. Based on the ASEAN Free Trade Area (AFTA), the company procures more than 40% of its parts from the country and produces finished vehicles.
The company is expected to become a major EV production base in Indonesia in 2024, as it will be able to export EVs to ASEAN member states without tariffs.
Following the launch of the electric vehicle "Ioniq 5," the company is focusing on expanding production and establishing its position by mass-producing the "Kona EV," which is equipped with batteries produced in Indonesia.