AC Ventures and the Electric Mobility Ecosystem Association (AEML) have released the most in-depth and authoritative report to date on Indonesia’s budding electric vehicle (EV) sector. The report reveals a burgeoning market for EVs in Indonesia, with a total addressable market already surpassing US$20 billion, despite minimal adoption to date.

The study explores and analyzes multiple key topics, including major industry players, infrastructure development, localized production, sales, public sentiment, industry and supply chain dynamics, and policy and regulation, as well as what public and private actors can do to build a more conducive EV economy in ASEAN’s single largest market.

Indonesia’s EV two-wheeler penetration currently sits at 0.2% of the market, with an opportunity to exceed 10% over the next five years, provided that public and private stakeholders work together to build a conducive local EV sector.