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Toyota’s $2 Billion Pledge Revs Up Indonesia’s Electric Car Push

  • Indonesia gets $3.6 billion commitment for EV investments
  • Country aims to triple car exports to 1 million units a year
Vehicles sit in traffic during rush hour in Jakarta.

Vehicles sit in traffic during rush hour in Jakarta.

Photographer: Muhammad Fadli/Bloomberg
Updated on

Toyota Motor Corp. will lead 50 trillion rupiah ($3.6 billion) in investments that global carmakers have pledged to plow into Indonesia’s electric-vehicle program in the next five years, Industry Minister Airlangga Hartarto said.

The Japanese carmaker’s commitment -- it plans to spend $2 billion to build hybrid vehicle plants in Southeast Asia’s largest car market -- will help the country triple its total car exports to 1 million units per year by 2025, Hartarto told reporters Thursday on the sidelines of the Gaikindo Indonesia International Auto Show.