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Bangkok Post
Bangkok Post
Business

Toyota plans $1.8bn Indonesia investment to build electric vehicles

Toyota Indonesia Toyota Motor Corp Airlangga Hartarto Economy Japan Jakarta
FILE PHOTO: Toyota Motor Corporation's cars are seen at a briefing on the company's strategies on battery electric vehicles in Tokyo, Japan, Dec 14, 2021. (Reuters)

JAKARTA: Japanese carmaker Toyota Motor Corp plans to invest 27.1 trillion rupiah ($1.80 billion, 66 billion baht) in Indonesia in the next five years to produce electric vehicles (EVs), Indonesia's economics ministry said on Wednesday.

The Southeast Asian country aims to become a global hub for producing and exporting EVs through processing its rich supplies of nickel laterite ore for use in lithium batteries.

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