Indonesia is at an important juncture in its electric vehicle (EV) transition, with a total addressable market already exceeding US$20 billion and an urgent need for infrastructure development to sustain rapid growth.
Despite impressive advancements, including hundreds of high-powered general charging stations, the country is still playing catch-up with ambitious targets for EV infrastructure.
That said, the nation’s strategic position is reinforced by its substantial nickel reserves, essential for EV battery production, surpassing those of other resource-rich countries and underscoring Indonesia’s global advantage in raw materials.
But to fully bring the local EV industry into the mainstream, Indonesia must craft supportive policies and strengthen its commitment to local production. It must ensure that the local ecosystem can meet the stringent component requirements and invite active participation from global investors.
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In parallel with a landmark investment into local EV two-wheeler company MAKA Motors in July 2023, AC Ventures (ACV) released a marquee report titled Indonesia’s “Electric Vehicle Outlook: Supercharging Tomorrow’s Mobility” produced in partnership with the Electric Mobility Ecosystem Association. The landscape has evolved over the past year, which is why ACV has created an easy-to-digest visualisation of where the sector stands today.
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Image credit: AC Ventures
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