Indonesia says Mitsubishi Motors plans to invest 5.7 trillion rupiah in 2024

Thank you, Mr. Air, a netizen of CTOnews.com, for your clue delivery! Japanese automaker Mitsubishi Motors has announced that it will invest 5.7 trillion rupiah (CTOnews.com) in 2024 to expand its production capacity in Indonesia, CTOnews.com reported on August 9.

According to a statement from Indonesia's Ministry of Industry, the company plans to increase its production capacity to a maximum of 250000 vehicles per year by 2024 and begin producing mini taxi-MiEV battery electric vehicles at its Indonesian plant at the end of this year.

In fact, Indonesia has been trying to provide incentives to attract investment from electric car manufacturers. Agoos Gumiwan Kartasasmita, Indonesia's industry minister, said the government was considering abolishing import duties and value-added tax on companies investing in local electric car plants.

"We are optimistic that if implemented, this will boost investment and increase demand for electric vehicles," Agoos said.

A spokesman for Mitsubishi said on Wednesday that executives at the company's Tokyo headquarters held talks with Mr Agoos on Wednesday but declined to comment further.

It is reported that in addition to expanding production in Indonesia, Mitsubishi plans to start producing hybrid cars in Thailand early next year, the first time the company has produced hybrid cars overseas.