The demand for electric motorcycles is projected to pave the way for electric vehicle (EV) adoption in Indonesia as the bikes would become cost-competitive with regular motorcycles by 2022, a study has shown.
The study by consulting firm McKinsey & Company showed that the total cost of owning an electric two-wheeled vehicle is expected to be equal to conventional internal combustion engine (ICE) motorcycles by next year and to be cheaper than ICE motorcycles by 2025.
As of 2020, the lifetime cost of ownership of a conventional motorcycle stood at around US$2,400, while an electric motorcycle around $2,616. The study suggests that electric motorcycles will reach cost parity with ICE bikes by 2022 as EV batteries become cheaper.
“This is why we expect electric two-wheelers to become the first [EVs] to reach 50 percent use in Indonesia,” McKi...
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