Kaleidoscope 2023: 5 Important Events In The World Of Domestic And Foreign Automotive

Cruise Origin, an autonomous car in collaboration with Honda Motor Co., with Cruise and General Motors Company (GM) will operate in Japan in early 2026. (Doc. GM)

JAKARTA - In the midst of the innovative breakthroughs and dynamics that rocked the automotive world in 2023, important events also enlivened the global and domestic mobility stage, all opening up a new chapter in the evolution of technology and the latest trends in the industry.

The following are five important events of the many events that occurred in the domestic and foreign automotive world in 2023 according to VOI:

1. Vinfast Becomes the Third Most Valuable Car Brand in the World

Vinfast, a Vietnamese car brand, became the third most valuable car brand in the world in 2023 to be precise in August. Vinfast's share value reached 20 billion US dollars, after Tesla and Toyota. Vinfast's success shows that Vietnam's auto industry is growing rapidly. However, VinFast's success has become a controversy where many think VinFast's shares have not been tested so they are not worth juxtaposing with other top brands.

2. Expanding Battery Swap Technology for Electric Cars

The year 2023 significant developments occurred in battery swap technology for electric cars where electric car batteries were running out can be exchanged for fully charged batteries in a short time. This move is the most plausible answer to address the problem of limited travel and charging time on electric cars. A number of companies, such as Nio and CATL from China and Ample in the US, have begun to implement this technology globally. Nio's success, especially in the Chinese market, prompted them to make a massive expansion into the European market.

3. President Joko Widodo Revision of the Presidential Regulation on Electric Vehicles

President Joko Widodo (Jokowi) issued Presidential Regulation (Perpres) Number 79 of 2023 which was signed on December 8, 2023 concerning Amendments to Presidential Regulation Number 55 of 2019 concerning the Acceleration of the Battery Electric Vehicle Program for Road Transportation. This regulation provides concessions related to the level of domestic content (TKDN) for electric vehicle manufacturers. Where the target of achieving the TKDN target is delayed from before. And also provides incentives to several automotive companies to import battery-based electric vehicles from abroad in the form of Completely Built Up or CBU.

4. Car Manufacturers Start Serious Trial of Autonomous Technology Features

Several automotive manufacturers that have equipped their cars with self-driving/autonomous driver assistive devices ranging from General Motors, Ford, Mercedes-Benz to BMW have conducted serious trials of this feature. Meanwhile, only three months have permission to operate in San Francisco, USA, General Motors' Cruise autonomous taxi service was suspended for operating permits in October 2023 following a collision with pedestrians.

5. Hyundai Motor Group Investment of 1.5 Billion US Dollars in Indonesia

In July, Hyundai invested 1.5 billion US dollars to build two battery factories in Indonesia which were disclosed directly by the President of Hyundai Motor Asia Pacific Lee Young Tack at the office of PT Hyundai Motor Manufacturing Indonesia, Bekasi. Lee said the first battery system assembly plant was being built in Cikarang with an investment value of 60 million US dollars (Rp 900 billion). Then, the second battery system factory was built in Karawang, West Java. The factory was built in Hyundai's collaboration with LG Energy Solution Ltd with an investment of 1 billion US dollars.