Indonesia’s electric vehicle (EV) market is ripe for transformation, echoing surges seen in Vietnam, and is set to unlock over $20 billion.
According to the report, Vietnam has witnessed a skyrocketing electric two-wheeler penetration from 1.5% to 9.7% between 2015 and 2021. This rapid growth has been propelled by favorable government policies, heightened consumer awareness regarding environmental sustainability, and advancements in EV technology that have made electric two-wheelers a viable and affordable transportation alternative.
Now, Indonesia stands on the precipice of a similar transformation, teetering on the edge of an EV revolution akin to Vietnam’s.
