Latest news with #Pindad
Yahoo
15-05-2025
- Automotive
- Yahoo
KGM signs 'national car' EV partnership in Indonesia
South Korean automaker KG Mobility (KGM) Company has announced it has signed an agreement with Indonesian state-owned defense company PT Pindad to collaborate in the production of vehicles for the local market. The two companies signed a Head of Agreement (HOA) last week focusing on two key areas: the local assembly of KGM's Rexton SUV and the development and production of battery-powered buses for the local market. The signing ceremony was held at Pindad's headquarters in Bandung, the provincial capital of West Java, and was attended by KGM chairman Kwak Jea-sun and CEO Hwang Ki-young, along with Pindad CEO Sigit P Santosa. KGM said in a statement that the two companies plan to 'collaborate on the Indonesian government's 'National Car Project' and the local production of electric buses, based on KGM's electric vehicle lineup and KGM Commercial Vehicle's (KGMC) electric bus platform.' KGM confirmed it will provide engineering and technical support for 'product feasibility reviews and localized vehicle development.' KGM stated that the two parties have agreed to 'actively cooperate to gradually expand the joint development projects to a scale of 200,000 units, including additional new model supply and support for Pindad's leadership in both the national car initiative and electric bus production in Indonesia.' According to KGM, Pindad currently supplies more than 70% of Indonesia's military vehicles, including armored vehicles, and other equipment. KGM pointed out that it exported 1,060 Rexton SUVs as knocked-down units to Indonesia last year, and that it plans to increase this to 3,000 units in 2025. In addition to Indonesia, KGM said it signed a preliminary agreement in March 2025 with Peru's with Fabrica de Armas y Municiones del Ejército (FAME) for the supply of official government vehicles and joint technology cooperation. Chairman Kwak Jea-sun said in a statement: 'The Musso Sports and Rexton have already proven their quality and performance in global markets, having been adopted as official government vehicles in the UK, Bulgaria, and Peru. Indonesia, being the largest automotive market in Southeast Asia with immense growth potential, is a strategic and promising opportunity for us. KGM will dedicate its efforts to expanding sales through differentiated product competitiveness and market-specific strategies.' "KGM signs 'national car' EV partnership in Indonesia" was originally created and published by Just Auto, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Korea Herald
13-05-2025
- Automotive
- Korea Herald
KGM partners with Indonesia's Pindad for EV, defense cooperation
KG Mobility said Tuesday it is set to supply electric buses and military vehicles to Indonesia through PT Pindad, a state-owned defense company under the country's Ministry of Defense. The signing ceremony for the head of agreement — a non-binding preliminary document outlining the key terms of a proposed deal — took place on Thursday at Pindad's headquarters in Bandung, Indonesia. Key figures attended the event, including KGM Chairman Kwak Jae-sun, KGM CEO Hwang Ki-young, KGMC CEO Kim Jong-hyun and Pindad CEO Sigit P. Santosa. Under the agreement, KGM plans to jointly develop 200,000 electric buses with Pindad as part of Indonesia's national car project — to produce electric vehicles within the country, with a target of deploying 2 million electric vehicles and 12 million electric two-wheelers by 2030. The automaker will support the product review, as well as the technology and engineering of the vehicle. Last year, KGM exported 1,060 units of Rexton pickup knockdowns — partially assembled vehicles — for military use to Indonesia and plans to export 3,000 units this year. 'The Musso Sports and Rexton have garnered global recognition in the global market, having been supplied as official vehicles to countries such as the UK, Bulgaria and Peru,' stated KGM Chairman Kwak Jae-sun. 'With Indonesia emerging as the largest automotive market in Southeast Asia and possessing significant growth potential, it presents highly attractive business opportunities. KGM is committed to expanding its sales volume by leveraging our unique products and strategic marketing approach.' In March, KGM also signed a memorandum of understanding with Fabrica De Armas Y Municiones Del Ejercito, a state-owned enterprise under the Peruvian Army, to increase the supply of official vehicles and technological cooperation, accelerating its penetration into emerging markets and expanding business operations.
Arab News
12-02-2025
- Business
- Arab News
Leaders of Indonesia and Turkiye hold talks on defense and economic ties
BOGOR, Indonesia: Turkish President Recep Tayyip Erdogan met his Indonesian counterpart Prabowo Subianto on Wednesday for talks aimed at strengthening economic and defense ties between the two Muslim-majority nations. The two countries are holding their first High-Level Strategic Cooperation Council summit after agreeing to create the forum at a meeting in Bali in 2022. Erdogan's state visit to Indonesia, the world's most populous Muslim-majority country and Southeast Asia's largest economy, was his second stop in a four-day visit that also includes Malaysia and Pakistan. 'This meeting is the highest regular bilateral forum between the two countries where all matters of common interest will be discussed, including strategic issues and priorities,' said Indonesian foreign ministry spokesperson Rolliansyah Soemirat ahead of the visit. A Turkish statement said the discussions will be focused on current regional and global issues, particularly the war in Gaza. On Monday, the Turkish leader met Malaysian Prime Minister Anwar Ibrahim, and reiterated his opposition to a US proposal to relocate Palestinians from Gaza and said Israel should pay for the territory's reconstruction. 'We do not consider the proposal to exile the Palestinians from the lands they have lived in for thousands of years as something to be taken seriously,' Erdogan said. Erdogan and his wife, First Lady Emine Erdogan, arrived in Jakarta late Tuesday and was welcomed by Subianto at Halim Perdanakusuma International Airport in a light rain. Erdogan rode with Subianto in a motorcade to his hotel. Indonesia and Turkiye have built an increasingly close relationship in recent years, and the two leaders previously met in Ankara last July when Subianto was still president-elect and defense minister. Subianto pledged to 'elevate defense cooperation and other strategic fields for mutual benefit.' The two countries signed a defense cooperation agreement in 2010, under which Indonesia's state-run arms producer Pindad and Turkiye's FNSS jointly developed a new model of medium tank. In 2023, the two countries inked a plan of action for joint military exercises and defense industry cooperation. In addition to Indonesia, Turkiye has HLSCC cooperation forums with 21 other countries, including Pakistan. Turkiye and Indonesia plan to sign agreements on trade, investment, education and technology during Erdogan's visit. Erdogan will head on to Pakistan on Wednesday, where he and Prime Minister Shehbaz Sharif will address the Pakistan-Turkiye Business and Investment Forum and attend another HSLCC meeting.
The Independent
12-02-2025
- Business
- The Independent
Leaders of Indonesia and Turkey hold talks on defense and economic ties
Turkish President Recep Tayyip Erdogan met his Indonesian counterpart Prabowo Subianto on Wednesday for talks aimed at strengthening economic and defense ties between the two Muslim-majority nations. The two countries are holding their first High-Level Strategic Cooperation Council summit after agreeing to create the forum at a meeting in Bali in 2022. Erdogan's state visit to Indonesia, the world's most populous Muslim-majority country and Southeast Asia's largest economy, was his second stop in a four-day visit that also includes Malaysia and Pakistan. 'This meeting is the highest regular bilateral forum between the two countries where all matters of common interest will be discussed, including strategic issues and priorities,' said Indonesian foreign ministry spokesperson Rolliansyah Soemirat ahead of the visit. A Turkish statement said the discussions will be focused on current regional and global issues, particularly the war in Gaza. On Monday, the Turkish leader met Malaysian Prime Minister Anwar Ibrahim, and reiterated his opposition to a U.S. proposal to relocate Palestinians from Gaza and said Israel should pay for the territory's reconstruction. 'We do not consider the proposal to exile the Palestinians from the lands they have lived in for thousands of years as something to be taken seriously,' Erdogan said. Erdogan and his wife, First Lady Emine Erdogan, arrived in Jakarta late Tuesday and was welcomed by Subianto at Halim Perdanakusuma International Airport in a light rain. Erdogan rode with Subianto in a motorcade to his hotel. Indonesia and Turkey have built an increasingly close relationship in recent years, and the two leaders previously met in Ankara last July when Subianto was still president-elect and defense minister. Subianto pledged to 'elevate defense cooperation and other strategic fields for mutual benefit.' The two countries signed a defense cooperation agreement in 2010, under which Indonesia's state-run arms producer Pindad and Turkey's FNSS jointly developed a new model of medium tank. In 2023, the two countries inked a plan of action for joint military exercises and defense industry cooperation. In addition to Indonesia, Turkey has HLSCC cooperation forums with 21 other countries, including Pakistan. Turkey and Indonesia plan to sign agreements on trade, investment, education and technology during Erdogan's visit. Erdogan will head on to Pakistan on Wednesday, where he and Prime Minister Shehbaz Sharif will address the Pakistan-Turkey Business and Investment Forum and attend another HSLCC meeting. ___ Karmini reported from Jakarta, Indonesia.
