Indonesian Finance Minister: Indonesia will introduce stimulus policies to boost electric vehicle sales.

Indonesian Finance Minister Sri Mulyani Indrawati stated during an auto show event on Tuesday that the Indonesian government will introduce relevant initiatives in the coming weeks to promote the consumption of electric vehicles, including electric bicycles. Sri Mulyani mentioned that this stimulus plan aims to cover 500,000 electric motorcycles, which will be officially announced by Indonesian President Joko Widodo in two to three weeks. Sri Mulyani previously revealed that the government would provide a purchase subsidy of 5 million Indonesian rupiah for each electric motorcycle, but her remarks on Tuesday did not reiterate this subsidy standard. Sri Mulyani also stated at the auto show that the government will implement a policy of full exemption from value-added tax for specific categories of electric vehicles.