Indonesia's Minister of Industry announces local EV battery production could reduce EV prices by up to 30%.

Indonesia's Minister of Industry, Agus Gumiwang Kartasasmita, announced that producing domestic EV batteries could reduce the prices of electric vehicles by up to 30%. Currently, EV battery costs account for 40-50% of the total price of an electric car, and by manufacturing these batteries locally, the selling price can be decreased. This move will also increase the domestic component level (TKDN) of electric vehicles.

March 29, 2024
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