Minister reports positive progress in investment discussions with American electric vehicle producer – ANTARA News

Negotiations between an American electric car manufacturer and the Indonesian government are making progress regarding investment in Indonesia’s electric vehicle (EV) ecosystem, according to Coordinating Minister for Maritime Affairs and Investment Luhut Binsar Pandjaitan. Despite his reluctance to provide further details due to a non-disclosure agreement, he did state that negotiations with Chinese automaker BYD are also ongoing. The Indonesian government will provide value-added tax incentives of up to 10% on purchases of EVs this year to encourage investment in the sector, with the aim of assisting 250,000 electric motorbikes purchased or converted this year. South Korean company Hyundai and Chinese corporation Wuling are among the foreign car makers already building factories in Indonesia.