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Indonesia tax cut drives electric car sales for Hyundai, Wuling

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JAKARTA : Sales of electric cars in Indonesia jumped last month after the government launched tax incentives, auto executives said, in an early sign that electric vehicle (EV) adoption is gaining traction in Southeast Asia's largest economy. Effective from April, Indonesia cut the value-added tax (VAT) on

JAKARTA : Sales of electric cars in Indonesia jumped last month after the government launched tax incentives, auto executives said, in an early sign that electric vehicle adoption is gaining traction in Southeast Asia's largest economy.

Hyundai Motor Co's sport-utility vehicle IONIQ 5, a model eligible for the tax cut, saw sales jump three-fold to more than 600 units in April compared with the previous month, Sanghoon Yoon, an executive with Hyundai Motor ASEAN told Reuters on the sidelines of a seminar on energy transition in Jakarta.

 

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