![Vietnam's VinFast meets Indo trade ministry to discuss EV investment plans 01]()
On Monday, 4 September 2023, representatives of Vietnam’s electric vehicle (EV) maker VinFast met with the Indonesian Ministry of Trade to discuss cooperation and investment opportunities between both countries in the EV sector.
![Vietnam's VinFast meets Indo trade ministry to discuss EV investment plans 02]()
Indonesia is home to the largest nickel and cobalt production in the world, which are raw materials essential to EV batteries. The archipelago’s government is strongly wooing foreign EV companies to invest in the country’s rich natural resources following the global rise of EV sales.
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![Vietnam's VinFast meets Indo trade ministry to discuss EV investment plans 01]()
Besides VinFast, the Indonesian government is also attracting other EV makers including Tesla though some analysts have felt that Malaysia brought in better success in introducing the American EV maker into the country.
Also read: Japan's Nikkei Asia says Tesla's move in Malaysia is a score for PM Anwar over Indonesia's Jokowi
![Vietnam's VinFast meets Indo trade ministry to discuss EV investment plans 02]()
However, no details are revealed on the discussion between VinFast and the Indonesian Ministry of Trade.
The country’s Trade Minister, Zulkifli Hasan, said in a press statement, “Indonesia is open to cooperation and collaboration with partner countries in the context of developing EVs, including improving infrastructure and charging, creating a conducive business and investment climate as well as optimising the production and use of sustainable resources.”
![Vietnam's VinFast meets Indo trade ministry to discuss EV investment plans 03]()
It might be too early to say if VinFast has plans to eventually introduce or assemble its models in the archipelago. Currently, VinFast is only offered in left-hand drive (LHD) markets including its home market, Vietnam as well as USA where it received mostly negative reviews.
Also read: From Vietnam to USA in 4 years, VinFast makes its debut there with 5 EVs
![Vietnam's VinFast meets Indo trade ministry to discuss EV investment plans 04]()
Still, a few years back, VinFast filed intellectual property (IP) rights in Indonesia for 3 models – the Lux A2.0, Lux SA2.0, and the VF e35. Things have moved on since then with the first two models which were rebadged BMWs being discontinued as VinFast transitioned itself to only offer EVs while the VF e35 was renamed the VF8.
Also read: VinFast skips Malaysia for Indonesia; 3 models, EV included
![Vietnam's VinFast meets Indo trade ministry to discuss EV investment plans 05]()
The VF8 is Vietnam’s best-selling car in May 2023 and is offered in two variants – Eco (349 PS/500 Nm) and Plus (402 PS/620 Nm). Both variants are powered with 2 electric motors which are juiced up by an 82 kWh battery which is also offered on a subscription basis.
Also read: Vietnam's homegrown EV, VinFast VF8, is the country's best-selling car in May 2023
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