INSUBCONTINENT EXCLUSIVE:
Indonesia is advancing rapidly in the electric vehicle (EV) sector with its first battery cell factory, a $1.1 billion collaboration between
To leverage this, the country banned nickel ore exports in 2020, compelling foreign companies to establish local processing
including tax incentives, attract EV manufacturers and develop the necessary infrastructure
The Indonesia Battery Corporation (IBC) is a significant milestone in these ambitions.Formed by four state-owned companies, including
Pertamina and PLN, IBC oversees the entire EV battery value chain.The company plans a $17 billion investment by 2030, aiming to produce 140
StreetScooter for a potential acquisition to gain market access and knowledge transfer.Despite these efforts, EV sales in Indonesia remain
and 2.45 million two-wheeled EVs annually by 2030.In 2019, President Joko Widodo signed a regulation to promote battery-powered vehicles,
setting the stage for detailed legislation.This includes incentives for local content, tax breaks, and developing charging infrastructure,
shift towards electric vehicles.Despite current market limitations and infrastructural challenges, the country is poised to become a
significant player in the EV sector.This transition is essential as it reduces dependency on fossil fuels and aligns with global
