Indonesia’s ambitions in Electric Vehicles (EV) have lured global investors to the country. Experts believe they could boost investments in Southeast Asia’s automotive industry. The Southeast Asian country is rich in materials needed for the manufacturing of electric vehicle batteries, including copper, nickel, cobalt and bauxite. Indonesia has banned exports of certain minerals to draw investors and manufacturers in need of those materials.
The country still faces several hurdles in boosting vehicle production, including:
- Replacing Thailand as a regional vehicle production hub
- Facing challenges from lower-cost producers like the Philippines and Vietnam
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