Positive Outlook for EV Adoption in Indonesia as Local Content Exemption for VAT Reductions is Extended
Total EV sales in Indonesia are forecasted to increase by 69.1% in 2023, with battery electric vehicles leading the growth. The VAT reduction on EVs will contribute to the demand, but the country’s EV penetration rate is expected to remain low at 1.6% in 2023. Without additional incentives, the penetration rate is projected to reach […]
