Electric Vehicle Subsidies Abroad

Economics & Macro

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Adi Ahdiat 30/11/2022 11:00 WIB

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Several countries have provided subsidies to encourage the purchase of electric vehicles. These subsidies can exceed Rp 100 million per consumer.

Electric Vehicle (BEV) Subsidies in Several Countries (2021)

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Electric Vehicle Subsidies Abroad

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Electric Vehicle (BEV) Subsidies in Several Countries (2021)

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The Indonesian government plans to provide subsidies for electric vehicle buyers starting next year.

"If you want to replace your motorcycle with an electric motorcycle next year, you will get a subsidy," said Coordinating Minister for Maritime Affairs and Investment Luhut Pandjaitan, as reported by Reuters on Tuesday (29/11/2022).

This subsidy scheme is still under development and not yet final. According to Reuters, Coordinating Minister Luhut estimates the subsidy for electric motorcycle buyers to be around Rp6.5 million, while the amount for electric cars has not yet been mentioned.

Based on the Electric Vehicle Incentives report from a University of California (UC) research team, electric vehicle subsidy schemes have been implemented in several major markets since at least 2019.

In 2021, the largest subsidy was provided by Norway. This one of the happiest countries in the world implemented a tax exemption for battery electric vehicle (BEV) purchases worth US$10,700 or approximately Rp160.5 million (exchange rate Rp15,000/US$).

Germany provided a subsidy for BEV electric cars in the form of a price reduction of US$10,600 or approximately Rp159 million. Similar subsidies also apply in Japan, the United States, South Korea, France, and China, with details as shown in the graph.

Governments in each country can provide electric vehicle subsidies in various forms, such as indirect and direct subsidies.

However, the values recorded by the UC research team are all direct subsidies for consumers, whether in the form of tax exemptions, price discounts, or other incentives for electric vehicle buyers.

"We focus on purchase incentives provided by each country. We do not record non-financial incentives, indirect incentives, or business incentives," said the UC research team in their report.

Editor : Adi Ahdiat

"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."