Widodo Visits Vietnam EV Plant, Says Indonesia Ready For VinFast

Indonesian President Joko Widodo visited the Vietnamese automaker VinFast's factory, expressing Indonesia's readiness to facilitate the multinational's swift establishment of a plant and investment in the country, Hau Dinh and Aniruddha Ghosal reported for the Associated Press (AP).

During his visit to the large factory in the port city of Haiphong in northern Vietnam, Widodo had the opportunity to sit behind the wheel of a VinFast electric car, concluding his three-day visit to Vietnam. I Photo: Presiden Joko Widodo Facebook

During his visit to the large factory in the port city of Haiphong in northern Vietnam, Widodo had the opportunity to sit behind the wheel of a VinFast electric car, concluding his three-day visit to Vietnam.

VinFast, the Vietnamese electric vehicle (EV) manufacturer, has announced plans to invest $1.2 billion in Indonesia and construct a factory capable of producing up to 50,000 vehicles annually.

Green SM, an EV taxi operator predominantly owned by VinFast's founder, also disclosed an investment strategy amounting to $900 million in Indonesia.

VinFast had previously entered into an agreement with the Indonesian technology company PT GoTo Gojek Tokopedia Tbk, the owner of Gojek transportation services, to facilitate the transition of their taxi service to electric vehicles.

VinFast's expansion into Indonesia aligns with its global objective to market EVs in 50 countries.

The company is currently exporting EVs to the United States and is in the process of constructing a $4 billion EV factory in North Carolina, with production scheduled to commence later this year.

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