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Market Chatter: Indonesia Delays EV Subsidy Program

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The Indonesian government pushed forward an electric vehicle subsidy program as it reviews several fiscal and technical assessments, the Jakarta Globe reported Tuesday, citing Finance Minister Purbaya Sadewa.

Purbaya reportedly said the program will be delayed a month beyond the previously scheduled release in June as the government finalizes certain calculations.

The finance minister did not elaborate on what aspects of the program remain under review which could subsidize a total of 200,000 EV units, made up of 100,000 cars and 100,000 motorcycles, the report said.

Previously available figures placed the incentives at $281 per motorcycle while those for electric cars were still under discussion.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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