IEEFA: 75% of Electric Vehicles in Indonesia Use Iron-Based Batteries

By Editorial Team 04/04/2023
Summary

The Institute for Energy Economics and Financial Analysis (IEEFA) revealed that 75 percent of electric cars sold in Indonesia in 2022 used lithium iron phosphate (LFP)-based batteries.

These batteries do not contain nickel, so they are more affordable. One of the electric vehicles (EVs) that use LFP batteries is the Wuling Air ev. IEEFA energy analyst Putra Adhiguna suggested that the same trend would also exist in the electric two-wheeler segment.

The relatively low price of LFP batteries is suitable for price-sensitive markets like Indonesia. Besides, almost half of the new EVs made by Tesla also use a similar technology, especially the Model 3 and Y, marketed for the first time in China in the first quarter of 2022.

"Currently, the acceleration of electric vehicles [development] does not seem to rely too much on nickel-based batteries," he said last week. "There are also plans to build an LFP battery factory in Indonesia. In the end, whether Indonesian nickel will be competitive enough to drive the growth of the domestic electric vehicle market with nickel-based batteries is still a question," he added.

Register now and get free access.

If you want to get free access to our Daily Insights and Weekly Digest, please click "Sign up" button below. If you already have an account, please login.

Sign up
Log in
What do subscribers receive?

As a subscriber, you'll receive daily insights, weekly business digests, and quarterly industrial reports.

What kind of pieces will i get?

In-depth reports on assumption and impact analysis, as well as update and trends mapping, written by our credible and experienced analysts.

And, there is something else…

Register now and get free access, click here to register. Feel free to contact us with any additional questions you have.