Ford and Hyundai discuss electric vehicle investments with Indonesia

Indonesia is in talks with Ford Motor (NYSE:F) Co and Hyundai Motor Co to set up electric vehicle-related operations in the Southeast Asian country, Indonesian Coordinating Minister for Economic Affairs Airlangga Hartarto told an audience in Washington D.C. on Thursday.

Ford, nickel miner Vale Indonesia and China's Zhejiang Huayou Cobalt signed a non-binding cooperation agreement in July to build a plant to extract nickel chemicals in Indonesia, Ford said. Indonesia is also in talks with Hyundai and South Korean battery maker LG Energy Solution on battery and electric vehicle investments, Hartarto said. "We have raw materials for electric vehicle battery technologies," Hartarto told an audience at the Center for Strategic and International Studies. Indonesia's large nickel resources as well as its semiconductor manufacturing capacity "can support the US auto industry," he said. Follow Global Economic Developments on Social Media! Click here to follow Ieconomy official Facebook account! Click here to follow Ieconomy official Instagram account! Click here to follow Ieconomy official Twitter account!