Indonesia's Financial Services Authority (OJK) has expressed confidence that the country will continue to receive significant investments in electric vehicles (EVs) even after the expiration of the current incentive package for EV manufacturers.
The OJK notes that several key factors, including the government's commitment to increasing the production and use of clean energy, as well as the growing demand for eco-friendly transportation options among Indonesian consumers, are expected to drive investment in the EV sector.
The agency also points out that Indonesia has made significant progress in recent years in terms of its EV infrastructure, with several major companies investing heavily in the development of charging stations across the country.
In a statement, OJK Governor Boy Suryohadiprogo said that the agency was optimistic about the future of the Indonesian EV industry, citing the government's plans to increase EV production to 1.7 million units by 2025 and to achieve carbon neutrality by 2050.
The OJK has also announced that it will be providing support to EV manufacturers through various means, including tax incentives and subsidies for research and development.
Despite the expiration of the current incentive package, which is set to end in June 2024, OJK officials are upbeat about the prospects for the industry. They argue that the benefits of investing in EVs, including reduced greenhouse gas emissions and improved air quality, will continue to attract investors and consumers alike.
Overall, while the expiration of the incentive package may pose some challenges for the Indonesian EV industry, OJK officials are confident that the sector will continue to thrive in the face of growing demand for clean energy solutions.
The OJK notes that several key factors, including the government's commitment to increasing the production and use of clean energy, as well as the growing demand for eco-friendly transportation options among Indonesian consumers, are expected to drive investment in the EV sector.
The agency also points out that Indonesia has made significant progress in recent years in terms of its EV infrastructure, with several major companies investing heavily in the development of charging stations across the country.
In a statement, OJK Governor Boy Suryohadiprogo said that the agency was optimistic about the future of the Indonesian EV industry, citing the government's plans to increase EV production to 1.7 million units by 2025 and to achieve carbon neutrality by 2050.
The OJK has also announced that it will be providing support to EV manufacturers through various means, including tax incentives and subsidies for research and development.
Despite the expiration of the current incentive package, which is set to end in June 2024, OJK officials are upbeat about the prospects for the industry. They argue that the benefits of investing in EVs, including reduced greenhouse gas emissions and improved air quality, will continue to attract investors and consumers alike.
Overall, while the expiration of the incentive package may pose some challenges for the Indonesian EV industry, OJK officials are confident that the sector will continue to thrive in the face of growing demand for clean energy solutions.