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Indonesia looks to increase hybrid electric car exports, mulls incentives
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Arwani Hidayat tracks the counter on April 12, 2023, as he charges his electric vehicle at a charging station in Central Jakarta. He plans his journeys carefully to account for charging time, especially for long trips. (JP/Rachmat Kurniawan)
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ndonesia is looking to increase exports of hybrid electric vehicles (HEVs) to seize the opportunity presented by the global shift toward electric vehicles (EVs).
Ali Murtopo Simbolon, undersecretary of commerce and industry at the Office of the Coordinating Economic Minister, said the global hybrid automobile market size was expected to reach around US$156 billion in 2023.
That figure is projected to climb to $444 billion by 2032, according to market insight firm Precedence Research, following a 20.7 percent compound annual growth rate (CAGR) over the next nine years.
“[HEVs] are among the products that we’re [looking to prioritize] for export in the coming years,” he said during an event hosted by news agency InvestorTrust in Jakarta on Wednesday.
Hybrid cars combine combustion and electric propulsion systems rather than fully relying on electricity stored in batteries, with the latter the type the government had prioritized for its EV ambition.
He said the government was studying the possibility of providing incentives for HEVs to push exports.
“To date, regulations for HEVs are the same as conventional [vehicles]. Incentives only apply for [battery] EVs,” Ali said.
