Indonesia plans to produce 600,000 electric cars by 2030
Indonesia is seeking ways to become an electric vehicle (EV) production hub in the region, aiming to reach an output of 600,000 electric cars and 2.5 million electric motorcycles by 2030.
President Joko Widodo writes his signature on the hood of a Kona electric car during his visit to Hyundai car factory in Ulsan, the Republic of Korea, on November 26, 2019 - Illustrative image (Source: Jakartaglobe.id)The country is also preparing an ambitious plan to become a key player in the global supply chain of lithium-ion battery in line with the EV industry.
Industry Minister Agus Gumiwang Kartasasmita said that battery is the most valuable component inside an EV, and it accounts for 35 percent of production costs.
Indonesia’s key advantage in the EV industry is nickel-based lithium-ion battery because it has the world’s biggest nickel reserves, he added.
The Indonesian Government has issued the so-called EV Roadmap detailing various incentives to attract more investment in this rapidly growing industry. According to the roadmap, EV sales are exempt from luxury tax and import duties, while consumers also enjoy low-interest installments.
In addition, EV owners are entitled to upgraded home electricity capacity with discounted fees, Agus said./.
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