The Ministry of Industry (Kemenperin) is reported to be collaborating with companies responsible for producing electric vehicle batteries, including the Indonesia Battery Corporation (IBC). IBC, in particular, is a State-Owned Enterprise (SOE) that plays a pivotal role in the Battery Electric Vehicle (BEV) and EV ecosystem in Indonesia. These progressive steps are a strategic part of supporting Indonesia's vision to lead in the electric vehicle industry and contribute to the global sustainability agenda stated Minister of Industry on Sunday. Currently, there are around 50 companies developing EVs in Indonesia, with a total investment exceeding 200 million US dollars or around IDR 3 trillion. The government has set a target for one million four-wheeled electric vehicles to be in operation by 2035, which is equivalent to saving approximately 12.5 million barrels of fuel. This policy is expected to reduce CO2 emissions by 4.6 million tons.
Additionally, it is aimed to have 12 million electric two or three-wheeled vehicles in operation by 2025, equivalent to saving 18.86 million barrels of fuel and reducing 6.9 million tons of CO2. The government is optimistic that these targets can be achieved. We also welcome industries interested in utilizing available incentives for electric vehicle development in Indonesia. The Ministry supports the implementation of the Indonesia Sustainability Forum (ISF) held in the middle of this week. He stated that the ISF is an annual primary platform aimed at promoting sustainable development. The ISF, initiated by the Coordinating Ministry for Maritime Affairs and Investment in collaboration with the Chamber of Commerce and Industry (KADIN), offers opportunities for global stakeholders to collaborate and engage in dialogue. The ISF involves various parties, including the government, private companies, multinational institutions, associations, think tanks, civil society organizations, and philanthropic organizations. This initiative is expected to play a crucial role in achieving sustainability goals.
