Quarterly Report: Indonesia’s EV Financing Industry Ready to Bloom

  • EV financing prospect is bright, as 70 to 80 percent of auto sales in Indonesia are in credit. Multifinance set a high target for EV financing as the market showed enthusiasm for the new energy vehicle era. Without cash subsidies and a lack of infrastructure and limited EV models, EV sales contributed around 15 percent to this year's car sales growth in Indonesia.
  • The Financial Authority policies on battery electric vehicle (BEV) financing, including lower risk-weighted assets obligations and discounted administrative fees for green bond issuance, could result in lower rates of consumer financing for EVs than the Internal Combustion Engine (ICE) vehicle ownership.
  • The new energy vehicle era challenges multi-brand multifinances as some EV producers use their own multifinance companies to create a closed-loop business.
  • However, the EV era creates new corporate and consumer financing opportunities, such as for EV supply chains and charging stations development to home chargers and battery ownership.

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