Indonesia's Financial Services Authority (OJK) has expressed confidence that the country will continue to support electric vehicle (EV) financing despite the expiration of the current incentive program for electric bus manufacturers.
The OJK, which regulates the financial sector in Indonesia, stated that it is committed to providing favorable conditions for EV financing, particularly for small and medium-sized enterprises. The regulator acknowledged that the current incentives for electric bus manufacturing would expire at the end of 2023, but emphasized its commitment to supporting the growth of the EV industry.
According to OJK officials, the regulator will continue to provide support for EV financing through various channels, including preferential interest rates and flexible repayment terms. This move is aimed at encouraging more businesses to invest in electric bus manufacturing, which is seen as crucial to reducing Indonesia's dependence on fossil fuels and mitigating climate change.
The Indonesian government has set a target of having 2 million electric vehicles on the country's roads by 2025, with electric buses expected to play a significant role in achieving this goal. The OJK's support for EV financing is seen as crucial to helping meet this target, particularly for small and medium-sized enterprises that may not have the resources to invest heavily in EV manufacturing.
Industry experts welcome the OJK's commitment to supporting EV financing, which they say will help drive growth in the industry. "The OJK's efforts to provide favorable conditions for EV financing will be crucial in driving growth in the industry," said one expert. "With the right support, we can see a significant increase in electric bus manufacturing and sales over the next few years."
The OJK, which regulates the financial sector in Indonesia, stated that it is committed to providing favorable conditions for EV financing, particularly for small and medium-sized enterprises. The regulator acknowledged that the current incentives for electric bus manufacturing would expire at the end of 2023, but emphasized its commitment to supporting the growth of the EV industry.
According to OJK officials, the regulator will continue to provide support for EV financing through various channels, including preferential interest rates and flexible repayment terms. This move is aimed at encouraging more businesses to invest in electric bus manufacturing, which is seen as crucial to reducing Indonesia's dependence on fossil fuels and mitigating climate change.
The Indonesian government has set a target of having 2 million electric vehicles on the country's roads by 2025, with electric buses expected to play a significant role in achieving this goal. The OJK's support for EV financing is seen as crucial to helping meet this target, particularly for small and medium-sized enterprises that may not have the resources to invest heavily in EV manufacturing.
Industry experts welcome the OJK's commitment to supporting EV financing, which they say will help drive growth in the industry. "The OJK's efforts to provide favorable conditions for EV financing will be crucial in driving growth in the industry," said one expert. "With the right support, we can see a significant increase in electric bus manufacturing and sales over the next few years."