The incentive came into effect this month and will remain in place until the end of the year, the Coordinating Ministry of Maritime and Investment Affairs said in a statement.Indonesia is stepping up efforts to lure investment into domestic production of EV batteries and EVs to utilise its rich reserves of nickel, which is processed for battery production.
Officials have been trying to attract investment from electric car makers such as Tesla and China's BYD Auto. South Korea's LG and Hyundai have already started constructing plants to assemble batteries and EVs in the Southeast Asian country.Reporting by Fransiska Nangoy Editing by Ed Davies
Musk Effect.
Indonésia reduz IVA sobre veículos elétricos para 1%
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