As the largest economy in Southeast Asia, Indonesia is becoming a key country in global electric vehicle (EV) production. According to CRI, Indonesia will produce 2.2 million electric vehicles by 2030. Indonesia is rich in nickel natural resources, with up to 52% of the world’s nickel resources. This puts the country in a key position in the global battery production supply chain.
The Indonesian government strongly supports the development of the electric vehicle industry, and the government plans to build an all-electric bus fleet for Jakarta’s metropolitan public transportation system in less than seven years, requiring 14,000 electric buses to achieve this goal. State-owned electric utility PLN has also committed to installing 31,000 additional electric vehicle charging stations by 2030. PLN has provided $3.7 billion in commercial and public sector investments in Indonesia to meet its 10-year commitment. In addition, various government programs to increase the capacity of electric vehicles are underway. Various government support policies have also attracted a number of international automotive giants to Indonesia. Hyundai and LG, two Korean conglomerates, have signed a memorandum of understanding with the Indonesian government to form a joint venture company in Karawang, West Java specializing in electric vehicle battery production. The $1.1 billion company plans to produce more than 150,000 electric car batteries annually.

In addition, the Indonesian government is attempting to reduce emissions by 29% over the next decade, which is also conducive to the rapid growth of the electric vehicle market. CRI forecasts that electric vehicle sales in Indonesia will surge in the coming years. Electric passenger car sales are expected to reach 250,000 units in 2030, accounting for 16 percent of all new passenger car sales, while demand for electric motorcycles is expected to reach 1.9 million units, accounting for 30 percent of all new two-wheelers sold. CRI expects the market size of electric vehicles in Indonesia to reach USD 2.02 billion by 2029, growing at a CAGR of 20.96% from 2022-2029.
According to CRI, the market size of electric vehicles industry will reach US$ 3575.26 million in 2032 and the CAGR in 2023 to 2032 is 20.96%.

Topics covered:

  • Indonesia Electric Vehicle Industry Overview
  • The Economic and Policy Environment of the Electric Vehicle Industry in Indonesia
  • What is the impact of COVID-19 on the electric vehicle industry in Indonesia?
  • Indonesia Electric Vehicle Industry Market Size 2023-2032
  • Analysis of major Indonesian electric vehicle industry manufacturers
  • Key Drivers and Market Opportunities in Indonesia’s Electric Vehicle Industry
  • What are the key drivers, challenges and opportunities for Indonesia’s electric vehicle industry during the forecast period 2023-2032?
  • Which companies are the key players in the Indonesian Electric Vehicle industry market and what are their competitive advantages?
  • What is the expected revenue of Indonesia Electric Vehicle Industry market during the forecast period 2023-2032?
  • What are the strategies adopted by the key players in the market to increase their market share in the industry?
  • Which segment of the Indonesia Electric Vehicle Industry market is expected to dominate the market by 2032?
  • What are the main negative factors facing the electric vehicle industry in Indonesia?