Indonesia EV Profile: Extension Of Local Content Exemption For VAT Reductions Bodes Well For EV Adoption
Press Release

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 […]

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