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The Indonesian Government Targets to Develop 2,200 4-wheeler & Electric Vehicles And 2.1 Million 2-wheeler Electric Motorbikes by 2025 in Phases
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Indonesia is a key automotive contributor in the Association of Southeast Asian Nations (ASEAN) region in terms of sales volume. However, the country has just begun to enter the field of the electric powertrain. The Indonesian population has started to become more aware of electric vehicles (EVs) leading to an increase in sales. In 2019, 24 electric passenger vehicles were sold in the country, compared to just the 1 unit sold in 2018; this puts the growth rate at 2,300%. Approximately 15,500 units of electric two-wheeler motorcycles were sold in the year. After the electric bus concept exhibition held in March 2019, PLN, a leading public bus operator in the country, conducted 3 trial runs in Jakarta. On the other hand, 30 electric taxis were put into operation, of which 83.3% were BYD's e6 models, and the rest were Tesla X 75Ds.The Indonesian electric vehicle market is highly concentrated at its early growth stage. The main reasons include limited selectivity, high price barriers, and the dependence of internal combustion engines. Major market contributors include GESITS (a local electric two-wheeler motorcycle start-up), Mitsubishi (a leader in the electric passenger vehicle market), and BYD (a leader in both electric public buses and electric public taxis). By the end of 2019, the country had built a total of 20 charging stations for electric vehicles. The EV charging infrastructure segment has a monopolistic structure, led by PT Perusahaan Listrik Negara, which is a state-owned (also the largest) electricity corporation in the country.The Indonesian government is likely to accelerate the production and development of electric vehicles, as well as increase the price competitiveness of EVs through direct financial supports. Initiatives include the luxury tax exemption of low-cost green cars, full corporate tax exemption through a tax holiday plan, and the reduction of gross income from the super deductible tax plan. For example, the government has announced a tax holiday that allowed 100% corporate income tax exemption for 5 to 20 years, based on the investment value and an additional 50% tax discount for two years beyond the expiration of the above tax holiday.Indonesia has the largest nickel reserves in the world. The government encourages the production of nickel ore-related products, such as electric vehicle batteries, through local production capacity. Global leading stakeholders from China and Japan have already started investing in the country. The study provides an assessment of the Indonesian electric vehicle market, including electric passenger vehicles, commercial electric vehicles, and electric two-wheelers. It provides an analysis of strategic reasons to promote the adoption of EVs in Indonesia. Besides, this research elaborates on the government vision and plan for electric vehicles. The study also presents a market overview of electric vehicles, charging infrastructure, and EV batteries.
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