Wuling Strengthens Commitment to Support Electric Vehicle Ecosystem from Upstream to Downstream
With the Signing of Memorandum of Understanding on Investment in New Wuling KBLBB (Battery-Based Electric Vehicle) Project
Jakarta, April 29 2023 – Wuling Motors (Wuling) today strengthened its commitment to developing the battery-based electric vehicle ecosystem in the country from upstream to downstream through battery localization and the signing of a memorandum of understanding on investment in Wuling's new KBLBB (Battery-Based Electric Vehicles) project in Indonesia. The ceremony was held at the Wuling Center in the form of a symbolic handover of locally produced electric car batteries and also the signing of a memorandum of understanding on investment in the new KBLBB project between PT SGMW Motor Indonesia and the Indonesian Coordinating Ministry for Maritime Affairs and Investment.
"This is a new milestone in Wuling's journey to support the acceleration of vehicle electrification launched by the Indonesian government. The signing of a memorandum of understanding with the Indonesian Coordinating Ministry for Maritime Affairs and Investment and the handover of electric car batteries produced in collaboration with Gotion Hi-Tech is certainly a real commitment of Wuling to developing the ecosystem and battery-based electric motor vehicle industry from upstream to downstream," explained Shi Guoyong, President Director of Wuling Motors.
The localization of electric vehicle batteries is a form of strategic cooperation between Wuling and PT Gotion Green Energy Solutions Indonesia (Gotion Hi-Tech) which was previously inaugurated in November 2022. Gotion Hi-Tech is a global company that invests in Indonesia in the manufacture of electric vehicle batteries. Through this partnership, Wuling's commitment to producing electric vehicles with quality local supply can be realized.
In developing its electric vehicle production in Indonesia, Wuling cooperates with various global companies as supply chain partners. On this occasion, Wuling also partnered with Gotion Hi-Tech to produce batteries needed as one of the main components of electric cars. In addition, the benefit of this collaboration is to provide convenience in after-sales services, especially for Wuling electric vehicle batteries.
At this ceremony, Wuling also carried out a procession of Signing a Memorandum of Understanding for the New Battery-Based Electric Vehicle (KBLBB) Investment Project between PT SGMW Motor Indonesia and the Coordinating Ministry for Maritime Affairs and Investment of Indonesia. This signing was carried out by the President Director of Wuling Motors, Shi Guoyong, and Septian Hario Seto, Deputy for Investment and Mining Coordination, Indonesia's Coordinating Ministry for Maritime Affairs and Investment.
The signing of this memorandum of understanding is a form of Wuling's commitment to contribute to the development of electric vehicles in Indonesia. As a growing segment, the government continues to promote the acceleration of vehicle electrification in order to create a greener Indonesian environment. Therefore, the potential in the electric car segment is still wide open and has room for further development.
"With high consumer confidence, good growth, and export performance, Indonesia is growing well. Indonesia is the largest automotive market in ASEAN and can become a production hub for a wider region, such as ASEAN, Australia, and even Africa. Seeing the enormous growth of EVs in Indonesia, Wuling has the potential to enter the electric vehicle market with a relatively new market and few choices," said Luhut Binsar Panjaitan, Coordinating Minister for Maritime Affairs and Investment.
In addition to the MoU signing procession of KLBB investment and the handover of electric vehicle battery localization, Wuling also symbolically handed over 50 units of its electric vehicle, Air ev to support the organization of the 2023 ASEAN Summit in Labuan Bajo which took place in May 2023. The symbolic handover was carried out by the President Director of Wuling Motors, Shi Guoyong to the Ministry of State Secretariat represented by the Secretary of the Ministry of State Secretariat, Setya Utama.