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Source: Four-wheeled EV Sales, Gaikindo, 2024

EV car sales in Indonesia have seen remarkable growth over the past five years, reaching a peak in 2023. Sales of all types of EV cars more than tripled in 2023 compared to 2022. In the first half of 2024 alone, nearly 40,000 units were sold, the majority of which being hybrid vehicles.

The Indonesian government's active support has driven the rapid expansion of the EV market. Key incentives include reducing VAT from 11% to 1% for EVs with over 40% local components, and temporary Luxury Sales Tax reductions for both imported and locally assembled EVs. Furthermore, import duty exemptions are available until 2025 for cars with 20-40% local content and fully-assembled units. Investors benefiting from this incentive must start producing EVs in 2026, matching the amount of vehicles imported from 2024-2025. Indonesia aims to sell 13 million motorbikes and 2 million cars by 2030, with these measures supporting the targets.

Figure 2: Four-wheeled EV Players in Indonesia
Company Remarks
Hyundai Own facilities in Deltamas, Cikarang with maximum yearly production capacity of EVs up to 70,000 units.
Wuling Own facilities in Deltamas. Cikarang with yearly production capacity of 120,000 units for both EV and non-EV cars.
Chery Use existing facilities by PT HIM in Bekasi with approximate yearly capacity of 7,000 units.
Sokonindo (DFSK) Own facilities in Modern Cikande, Tangerang with approximate yearly production capacity of 50,000 units.
beta Use existing facilities by PT HIM in Bekasi with approximate yearly capacity of 27,000 units.
GAG AION A new facility in Cikampek is set to open in 2025. It aims for 30,000 units produce annually.
BYD A new facility in Subang Smartpolitan is set to open in 2026. It aims for 150,000 units produce annually, with a $1 billion investment.
Vinfast A new facility in Subang is currently under construction. It aims for 50,000 units produce annually, with a $200 million investment.