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Indonesian Government Imposes Conditional Open Policy for Importing Electric Vehicles

Publish Date:2024/05/13

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The electric vehicle (EV) market in Indonesia is growing with the presence of various new brands enriching the nation's automotive industry. The government allows the import of electric vehicles with certain conditions, requiring manufacturers to commit to investing in local assembly or production facilities. Deputy for Infrastructure and Transportation at the Coordinating Ministry for Investment and Maritime Affairs, Rachmat Kaimuddin, stated that each manufacturer must adhere to the agreement on the number of vehicles imported. Companies with production capacity in Indonesia can import freely without import duties and luxury goods tax (PPnBM), but the import quantity must match the production volume until 2025 and meet the Domestic Content Level (TKDN) by 2027. Several manufacturers are currently investing in Indonesia by using existing facilities and planning new factory constructions, which is believed to be crucial for Indonesia to strengthen its position in the EV industry. Rachmat ensured that if a manufacturer fails to produce the same number of vehicles, the brand will be fined. Currently, Hyundai, Wuling, MG, and Chery have been assembling in Indonesia, while Chinese automotive giant BYD has promised to build a factory in Subang, West Java. Manufacturers are allowed to import electric vehicles but are required to balance the number of imported and produced vehicles.

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Source:GAIKINDO

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