EV-import rules relaxed to attract investment

Reducing emissions: Vehicles caught in congestion during rush hour in Jakarta. The adopotion of more EVs will help reduce the air pollution the city. — AP

JAKARTA: Indonesia will grant automakers that plan to build electric vehicle (EV) plants tax incentives on their imports of completely built-up EVs until 2025, a new presidential regulation showed as Jakarta seeks to attract more investment.

Under the new regulation signed on Dec 8 and released this week, companies that have invested in EV plants, are planning to increase their EV investments, or planning to invest would be eligible for the incentives.