Indonesian EV Market to Exceed $20 Billion Despite Challenges

Indonesia’s EV market is projected to reach $20 billion by 2030. So far, Indonesia has recorded 44,265 EV sales from January through September 2023, reflecting a whopping 371.5 percent YoY surge from 9.388 units.

Tim Redaksi

17 Okt 2023 - 18.28
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Indonesian EV Market to Exceed $20 Billion Despite Challenges

Illustration - Electric car

Bisnis, JAKARTA — The domestic electric vehicle (EV) market is experiencing demand growth, albeit slower than the global market. Nevertheless, the EV market in Indonesia is projected to surpass $20 billion by 2030.

The Indonesian government is promoting the use of EVs as part of its efforts to achieve Net Zero Emission (NZE) by 2060. The growth of the electric vehicle market is driven by consumer awareness of environmentally friendly vehicles and government incentives. 

Several domestic automotive manufacturers compete to introduce electrified hybrid and battery electric vehicles (BEV) products. The market share of electric vehicles in Indonesia accounts for 5% of the total national automotive market.

Hendra Lie, Automotive Leader of Price Waterhouse Cooper Indonesia (PWC Indonesia), mentioned that many consumers hesitate to purchase EVs due to uncertainty about ownership costs. This has resulted in a slower adoption of EVs in Indonesia compared to the global market.

Cek Berita dan Artikel yang lain di Google News dan WA Channel
Editor: Yusuf Waluyo Jati
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Indonesian EV Market to Exceed $20 Billion Despite Challenges

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