BYD is to invest $1.3 billion in an electric vehicle factory in Indonesia, after the Chinese carmaker unveiled three new battery models for sale with the aim of becoming Indonesia’s biggest EV brand, reports the Financial Times. The site would be the sixth auto plant outside China planned by the Warren Buffett-backed group, following Brazil, Hungary, Mexico, Thailand and Uzbekistan, as it expands its manufacturing footprint closer to overseas markets. BYD, which overtook Tesla in EV sales last quarter, is also scoping Mexico for a factory location that could serve the US market, despite rising trade barriers. At an event in East Jakarta to launch three new models, the Indonesian government’s coordinating minister of economic affairs, Airlangga Hartarto, said the carmaker would invest $1.3 billion to build a plant with a capacity of 150,000 vehicles.
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