Hyundai Motor is accelerating its penetration into the ASEAN market | All Tech Sir

Hyundai Motor manufacturing facility in Indonesia

Hyundai Motor Co. is renewing its push to penetrate the Affiliation of Southeast Asian Nations (ASEAN) market, backed by a plant in Indonesia that opened final yr.

In accordance with the Indonesian Car Producers Affiliation (GAIKINDO), Hyundai Motor Manufacturing Indonesia (HMMI) in 2022 launched 82,416 items and ranked sixth among the many automotive producers in Indonesia. In complete in 2022 1,470,146 automobiles have been produced in Indonesia. HMMI accounted for five.6 p.c.

HMMI began manufacturing autos at a manufacturing facility constructed on an space of ​​777,000 sq. meters within the Deltamas Industrial Complicated in Bekasi, Indonesia, since January final yr. The corporate produces 4 fashions – the strategic mannequin Creta and Stargazer, the mid-size sports activities utility automobile (SUV) Santa Fe and the electrical automotive IONIQ 5. Amongst them, Creta and Stargazer are additionally exported to international markets. in 2022 HMMI exported 42,444 automobiles, rating fifth amongst Indonesian automotive producers. Hyundai Motor autos manufactured in Indonesia are shipped to the ASEAN area. Hyundai Motor’s wholesale gross sales in Indonesia totaled 31,965 items, rating the corporate eighth in Indonesia.

Toyota produced probably the most automobiles in Indonesia in 2022 (602,419 items). It’s adopted by Daihatsu (201,958 items), Mitsubishi Motors (153,102 items), Suzuki (153,102 items), and Honda (141,245 items). All of them are Japanese automotive producers. This yr, Hyundai Motor plans to extend HMMI manufacturing to 150,000 items.

Hyundai Motor’s technique is to speed up its penetration of the ASEAN market, which is dominated by Japanese automakers, by benefiting from the automotive market’s transition to electrical autos. To this finish, Hyundai Motor is constructing a battery cell manufacturing facility in Indonesia in cooperation with LG Power Answer.

However the competitors is intensifying. US electrical automotive firm Tesla is selling a plan to determine a brand new Gigafactory in Indonesia, in keeping with international media. Chinese language electrical automotive maker BYD, which introduced it should construct an electrical automotive manufacturing facility in Thailand, is reportedly seeking to construct an electrical automotive components manufacturing facility in Vietnam. Hyundai Motor Firm can be contemplating manufacturing electrical autos in Thailand.

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