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The future of mobility: Will electric vehicles take off in 2024?
There is more to the future of mobility than EVs. For sustainable transportation experts, the more impactful shift is toward efficient mass public transportation.
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Hyundai’s Ioniq 5 is the first foreign electric vehicle model to be produced in Indonesia. (Shutterstock/Kinematapro)
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mere decade ago, Jakarta had just begun construction on what would become its first-ever mass rapid transportation system. Today, Jakarta is already extending this MRT, it has a light rail transit also in operation, and it even has the Whoosh, a high-speed train to Bandung.
The future of public transportation in Indonesia looks promising. But it is another aspect of the future of mobility in Indonesia that is gaining a lot more interest: electric vehicles (EVs).
Is this the space to watch out for in 2024?
When models like the Hyundai Ioniq 5 and Wuling Air Evs entered the market in 2022, consumers greeted them with enthusiasm, enough to make the space a bright spot in what had been a tough year for the tech industry.
But adoption has been slow, or at least slower than in neighboring countries like Singapore and Thailand, hampered by factors such as higher vehicle prices and limited availability of charging stations.
This year, according to Michael Soerijadji, founder and managing partner at venture capital firm AC Ventures, Indonesia could “advance substantially toward sustainable mobility”.
He is not alone in this optimism. According to an EY-Parthenon study published last December, EV sales volume across six major Southeast Asian markets are expected to hit about 8.5 million units by 2035. Among the six, Indonesia is expected to account for the largest volume, selling an estimated 4.5 million units per year by 2035.
