Indonesian President Joko Widodo on Thursday signed a decree laying out government support for electric vehicle industry in the country, looking to leverage its wealth of essential metals.[JAKARTA] Indonesian President Joko Widodo on Thursday signed a decree laying out government support for electric vehicle industry in the country, looking to leverage its wealth of essential metals.
Indonesia has been seeking to carve out a downstream industry based on its supplies of nickel laterite ore, which is used in lithium batteries. New regulations would encourage not only EVs but also hydrogen fuel cell vehicles, covering all the new green technologies in the automotive industry, the industry ministry said in a separate statement.
A draft regulation seen by Reuters ahead of the signing also said automakers would get reductions in import tariffs for EV machinery and materials and lower luxury taxes for buyers, among other things.
Source: News Formal (newsformal.com)
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