JAKARTA: Japanese carmaker Toyota Motor Corp plans to invest 27.1 trillion rupiah in Indonesia in the next five years to produce electric vehicles , Indonesia's economics ministry said on Wednesday .
A string of other global companies has already announced big investments in this area including South Korea's Hyundai Motor Group and LG Energy Solutions, a unit of LG Group. "I believe demand for EVs whether its four-wheels or two-wheels will keep increasing in Indonesia and ASEAN," Airlangga said after meeting Toyota's Vice Chairman Shigeru Hayakawa a day earlier in Tokyo.
The nation has also set a target of having 13 million electric motorcycles - including converted ones - and 2.2 million electric cars on its roads by 2030.
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