EVolutionary Crossroads: Indonesia's EV Policy in the New Govt

electric vehicle concept

  • Presidential Regulation (Perpres) No. 79/2023, issued in December, represents Joko Widodo's final push for domestic EV adoption, offering incentives like import duty exemptions for Completely Built-Up (CBU) EVs tied to local production commitments.
  • Presidential candidates Anies-Muhaimin and Ganjar-Mahfud suggest potential shifts in EV policies. The major party endorsing Ganjar-Mahfud, PDI Perjuangan, is rumored to harbor concerns over the "personal business" of Jokowi and his associates in EV megaprojects.
  • Several challenges and opportunities in the EV landscape worth considering include the potential rivalry from hydrogen cars, stable oil prices, and semiconductor shortages, which indeed present potential investment prospects for ASEAN.

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