GST, HVGT, could resurface as part of Budget 2025 alongside RON95 rationalisation, says RHB analyst. Are we ready?
Home News Electric Vehicle EV Hyundai & LG Secure RM3.18 Billion Financing For Indonesia Battery Cell Plant Hyundai & LG Secure RM3.18 Billion Financing For Indonesia Battery Cell Plant Electric Vehicle EV Sep Irran Halid | August 24, 2022 04:34 pm Hyundai Motor Group and LG Energy Solution (LGES) have successfully secured US$710 million (RM3.18 billion) in loans and guarantees for their new battery cell plant in Indonesia. Five different international financial firms have stepped up with the fund which will be serviced in the next decade as the project progresses as reported by Yonhap. Quite a deal, but since EVs are the future, funders are pumping in huge figures in the hope of seeing massive gains in the long run. New EV battery cell plant in Karawang region by 2024 Considering the fact that this joint venture project amounts to a whopping $1.1 billion (over RM4.9 billion), a special form of debt guarantee is needed to seal the deal. This is why Hyundai Motor Co., Kia Corp., Hyundai Mobis Co., and LGES will all provide debt guarantees proportionate to the value of their stakes in the project via The Korea Trade Insurance Corp. Since more than half of the funding has been approved, the go-ahead has been given to build Hyundai's new EV battery cell plant in the new industrial complex of the Karawang region, east of Jakarta. If everything follows the right schedule and timing, mass production can begin as soon as the first half of 2024. As a start, the goal of the plant is to supply 10 GWh worth of battery cells in the first few years, which can be used for over 150,000 EVs. Once that has been accomplished, Hyundai's latest EV battery cell plant can be expanded to accommodate up to 30 GWh per year. That's enough juice to power close to half a million EVs. Power, literally. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags Hyundai Hyundai LG LG Hyundai battery cell plant Hyundai battery plant Indonesia Hyundai EV battery plant Indonesia Print Sep Irran Halid Content Producer Sep is a firm believer in the saying "Slow is smooth, smooth is fast" rather than "When in doubt, throttle it out". Drive safely, ride defensively, and most importantly, don't get hangry. Related News Audi Turns To Samsung, LG For Next-Gen Battery In Upcoming Electric SUV Auto News Jim Kem | August 14, 2015 Audi has teamed up with two South Korean tech giants, LG and Samsung, to co-develop new battery technology. The technology companies will supply the ... Falling Ringgit: Hyundai Raised Prices Of Santa Fe, Elantra and Veloster Auto News Hans | September 26, 2015 It’s inevitable. With the Ringgit losing nearly 18 percent in this year alone, and going past a 17-year low value to trade at RM4.40 to 1 US Dollar ... Promo Video By Hyundai Teases New Coupe Auto News Eric | April 28, 2017 Promotional videos by car companies often aren't described as exciting. But Hyundai appears to be hiding something in their latest promo ... Hyundai Launches New Safety Feature To Prevent Drivers From Leaving Their Children In The Car Auto News Gokul | October 04, 2017 Hyundai Motor today announced the introduction of a new safety feature called the Rear Occupant Alert system.The system, which will be offered in ... Comments
Hyundai & LG Secure RM3.18 Billion Financing For Indonesia Battery Cell Plant Electric Vehicle EV Sep Irran Halid | August 24, 2022 04:34 pm Hyundai Motor Group and LG Energy Solution (LGES) have successfully secured US$710 million (RM3.18 billion) in loans and guarantees for their new battery cell plant in Indonesia. Five different international financial firms have stepped up with the fund which will be serviced in the next decade as the project progresses as reported by Yonhap. Quite a deal, but since EVs are the future, funders are pumping in huge figures in the hope of seeing massive gains in the long run. New EV battery cell plant in Karawang region by 2024 Considering the fact that this joint venture project amounts to a whopping $1.1 billion (over RM4.9 billion), a special form of debt guarantee is needed to seal the deal. This is why Hyundai Motor Co., Kia Corp., Hyundai Mobis Co., and LGES will all provide debt guarantees proportionate to the value of their stakes in the project via The Korea Trade Insurance Corp. Since more than half of the funding has been approved, the go-ahead has been given to build Hyundai's new EV battery cell plant in the new industrial complex of the Karawang region, east of Jakarta. If everything follows the right schedule and timing, mass production can begin as soon as the first half of 2024. As a start, the goal of the plant is to supply 10 GWh worth of battery cells in the first few years, which can be used for over 150,000 EVs. Once that has been accomplished, Hyundai's latest EV battery cell plant can be expanded to accommodate up to 30 GWh per year. That's enough juice to power close to half a million EVs. Power, literally. ✕ Let's Connect on Whatsapp We protect your personal information in compliance with the PDPA I agree with Carlist.my Terms of Use and Privacy Policy. I agree to receive personalised communication from Carlist.my and its car sellers, business affiliates and partners. Check out the best car deals in town! Prev Next Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price. Related Tags Hyundai Hyundai LG LG Hyundai battery cell plant Hyundai battery plant Indonesia Hyundai EV battery plant Indonesia
Special offer - call now! days hours Avg. mkt. Why no price is listed? Sometime dealer wants you to contact for the best price. I Why no price is listed? Sometime dealer wants you to contact for the best price.
Audi Turns To Samsung, LG For Next-Gen Battery In Upcoming Electric SUV Auto News Jim Kem | August 14, 2015 Audi has teamed up with two South Korean tech giants, LG and Samsung, to co-develop new battery technology. The technology companies will supply the ...
Falling Ringgit: Hyundai Raised Prices Of Santa Fe, Elantra and Veloster Auto News Hans | September 26, 2015 It’s inevitable. With the Ringgit losing nearly 18 percent in this year alone, and going past a 17-year low value to trade at RM4.40 to 1 US Dollar ...
Promo Video By Hyundai Teases New Coupe Auto News Eric | April 28, 2017 Promotional videos by car companies often aren't described as exciting. But Hyundai appears to be hiding something in their latest promo ...
Hyundai Launches New Safety Feature To Prevent Drivers From Leaving Their Children In The Car Auto News Gokul | October 04, 2017 Hyundai Motor today announced the introduction of a new safety feature called the Rear Occupant Alert system.The system, which will be offered in ...