"With the Indonesian government announcing a definitive EV development roadmap, Toyota is moving forward with its EV program in the country and will be investing in phases, starting with hybrid vehicles. The deal was agreed in Japan at a meeting between Indonesia's Coordinating Minister for Maritime Affairs Luhut Pandjaitan and Toyota’s President, Akio Toyoda. Indonesia, with its plentiful nickel laterite ore reserves, also has ambitions to be a major regional supplier of lithium-ion batteries. Car makers, however, remain cautious, as it requires advanced nickel smelting processing. Toyota, having already established partnerships with China's Contemporary Amperex Technology Co. and EV maker BYD Co. for battery procurement, is best prepared to realize its plans and remain ahead in the EV race in Indonesia." – Vinay Piparsania