Look who's going EV?

If you think the push towards electric vehicles is a developed economy thing, think again. Indonesia has decided it wants to be a major EV player and is looking to boost take-up of electric vehicles as well as support their manufacture.

On the consumer side, this will mean the regular lower taxes for purchasers of electric cars, with levies based on items such as energy consumption and emissions CO2 rather than old-fashioned engine size.

Lower taxes will be extended to EV makers too. And last year the government unveiled measures to support battery making to leverage local nickel and cobalt supplies. Chinese battery outfit GEM announced that it was in a major $700m joint venture with other companies to produce battery-grade nickel chemicals and cobalt in the country.

 

Last month, Hyundai Motor said it would invest $1bn to build an electric vehicle plant in Indonesia. The South Korean manufacturer is reportedly looking at locations for additional production facilities in the market.

And over in India, the government earlier this year said it was looking to deploy EV charging stations every 25kms along highways and roads.

Recently, the Indian authorities unveiled plans to exempt EVs such as scooters and rickshaws from registration fees, while also cutting sales tax on electric vehicles.

Plus, state agency Niti Aayog has been in meetings with motorbike and scooter and manufacturers to support a switch to electric.

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