Indonesia to expand its Electric Vehicle Market by 2023

indonesia electric vehicle import export data

 The Indonesian government is planning to accelerate its Electric Vehicles sales from the global market. Indonesia is home to large nickel deposits, which is an essential component of EV batteries. Indonesia has the potential of manufacturing more than 2.45 million two wheeler Electric Vehicles and 6 lakhs four wheeler electric components.

So, the Indonesian government has decided to take a step forward to boost its EV market at both domestic and global level. The Indonesian government is planning to create 4 lac electric cars and 2 million electric motorcycles by 2030.


It is a great opportunity for the worldwide investors to establish a successful EV business in Indonesia as the government is offering a 50% tax reduction. Although, the challenge will be to reduce the cost of high priced EVs, and less developed charging infrastructure.


Indonesia, “Leading Nickel Exporter in the World”


Indonesia has the largest nickel reserves in the world. Indonesia accounts for over 30% share of the world's total nickel reserves. As per the Indonesia import export data of 2022, Indonesia recorded maximum shipment for nickel based goods along with palm oil, coal and tin.


According to the Indonesia customs data 2022, Indonesia's nickel exports were around 28 billion US Dollars. While it was around 20 billion US Dollars in 2021. Indonesia has recently banned nickel exports to boost its EV sector. Apart from this, Indonesia's nickel is utilized for steel alloys, non-ferrous alloys, plating, batteries and stainless steel.


Indonesia top EV companies


Indonesia is going to be an EV powerhouse by 2030. That is why businesses are investing in Indonesia's Electric Vehicles Market. As per Indonesia shipment data, Suzuki Ertiga Hybrid and the Wuling Air EV are the top EV manufacturing companies of Indonesia.


The top global players like Hyundai, Toyota, Terra, Suzuki, Mitsubishi and SGMW Motors are setting up their EV manufacturing companies in Indonesia. Indonesia holds a bright future in the Electric Vehicles market.


Indonesia Electronics Import Export


Indonesia is the 25th biggest exporter of Electronics in the world. As per Indonesia export data of 2021, Vietnam electronics equipment and appliances were responsible for over 11 billion US Dollars. It was 25% more as compared to 8.7 billion US Dollars in 2020. The major electronics product exports includes television, sound recorders, computers, projectors, transmitters and receptors etc.


The major importers of Indonesian electronics goods include Singapore, the United States, Japan, South Korea and Hong Kong. On the other hand, Indonesia's electronics imports were around 22 billion US Dollars in 2021 according to our Indonesia import data reports. Electronics imports were 3% more as compared to 2020 (18 billion US Dollars). China, Singapore, Taiwan, Japan and South Korea were among the top exporters of Electronic goods to Indonesia.


Future of Indonesia’s Electronics Vehicles Market


The Indonesian government is planning to boost its EV market by 2030. With the abundance of Nickel and electronics, Indonesia has the potential to scale its EV sales. Companies are now heavily investing in the Indonesian EV market.


Elon Musk's Tesla is about to set up an EV factory and build batteries in Indonesia. Taiwan's Foxconn is also planning to build batteries and electric vehicles in Indonesia. Japan's Hyundai to start its first EV manufacturing unit in Indonesia. This will give a major technological advancement and boost to Indonesia's EV sector.


Exim GTIS can help companies find buyers and suppliers of semiconductor chips, electronics parts and nickel metal.


It is an expert intelligence platform with over 200+ countries import export data reports. You can discover top trends, companies in the Indonesian market. Also, you can make a decisive marketing strategy by analyzing our Indonesian importers and exporters shipment records.

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