The definitive EV thread. No spin. No BS., page-16

Source: https://www.reuters.com/business/autos-transportation/indonesia-plans-subsidise-ev-sales-next-year-2022-11-29/

Indonesia has 270 million in population. Such a big market for an EV commitment. Having the support from Government, such as subsidies, will entice people to consider the change from petrol-powered vehicle.
PLS as the major lithium supplier, with others, in the chain of batteries will have to be able to cope with these moves. I reckon other countries will follow this movement too. This is exciting for PLS.

JAKARTA, Nov 29 (Reuters) - Indonesia plans to subsidise sales of electric cars and motorbikes starting next year so that they become more affordable, a senior government minister said on Tuesday.

Coordinating Minister of Maritime and Investment Affairs Luhut Pandjaitan said the government is finalising a scheme to subsidise about 6.5 million rupiah ($413) per purchase of electric motorbike to drive sales in Southeast Asia's largest economy.

"If you want to swap your motorbike to electric one next year, do it. You will get a subsidy," he told a banking forum.

Indonesia has a target of at least 1.2 million electric bike adoptions and 35,000 electric car adoptions by 2024.

Industry groups have said demand for EVs is growing but the sales volumes were still very small compared to combustion engine cars in the country of 270 million people due to the higher price of EVs.

Indonesia is keen to develop its own EV and battery industries at home, after banning exports of nickel ore to ensure supply for investors in processing since 2020.

Jakarta has already provided a tax cut for sales of EVs and hybrid cars since 2019.

($1 = 15,740.0000 rupiah)