Indonesia seeks measures to reduce domestic EV prices

By Vietnam News Agency
Mon, April 1, 2024 | 10:22 pm GMT+7

Indonesia will be able to cut domestic prices of electric vehicles by up to 30% by manufacturing its own EV batteries, said Minister of Industry Agus Gumiwang Kartasasmita.

In his recent remarks in Jakarta quoted by national news agency Antara, the minister said he believes the prices will drop by 20-30%.

Minister of Industry Agus Gumiwang Kartasasmita in Jakarta on March 28, 2024. Photo courtesy of ANTARA/Muzdaffar Fauzan.

Minister of Industry Agus Gumiwang Kartasasmita in Jakarta on March 28, 2024. Photo courtesy of ANTARA/Muzdaffar Fauzan.

He noted that EV batteries had been quite costly, with their prices equivalent to 40-50% of the vehicle cost.

According to the minister, in addition to decreasing the prices of EVs, domestically manufactured EV batteries would lead to an increase in the value of the domestic component level of such vehicles.

He expressed optimism that they would also attract more businesses to invest in the country.

Earlier, Kartasasmita revealed that French and Vietnamese automotive companies, Renault and VinFast, have voiced their readiness to pour capital into Indonesia. He said that the ministry has been in close coordination with them and that their investments are expected to support the development of an EV ecosystem in the nation

Comments (0)
  • Read More
Vietnam welcomes 6.2 mln foreign arrivals in Jan-Apr, 3.9% above pre-pandemic level

Vietnam welcomes 6.2 mln foreign arrivals in Jan-Apr, 3.9% above pre-pandemic level

Vietnam welcomed over 6.2 million foreign tourists in the first four months of this year, up 68.3% year-on-year, the General Statistics Office reported.

Travel - Tue, April 30, 2024 | 3:32 pm GMT+7

April 30 Victory – Glorious milestone in national history

April 30 Victory – Glorious milestone in national history

The Liberation of the South Day (April 30) is an occasion of great significance for all Vietnamese people.

Politics - Tue, April 30, 2024 | 3:10 pm GMT+7

$32 mln ecotourism project inaugurated in central Vietnam

$32 mln ecotourism project inaugurated in central Vietnam

Hang Gop Ecology Tourism JSC, a subsidiary of FVG Group, inaugurated its VND800 million ($31.56 million) Dong Giang Heaven Gate ecotourism project in Vietnam’s central province of Quang Nam on Sunday.

Travel - Tue, April 30, 2024 | 2:00 pm GMT+7

Dien Bien Phu Campaign's historic 3D panorama painting to be exhibited in Hanoi

Dien Bien Phu Campaign's historic 3D panorama painting to be exhibited in Hanoi

The impressive 3D panorama painting showcasing the Dien Bien Phu Campaign, which captivates visitors at the Dien Bien Phu Victory Museum in the northern province of Dien Bien, will now be exhibited in Hanoi using 3D mapping technology.

Travel - Tue, April 30, 2024 | 12:59 pm GMT+7

HCMC ready for spectacular fireworks display to celebrate national holidays

HCMC ready for spectacular fireworks display to celebrate national holidays

Ho Chi Minh City is getting ready for a spectacular fireworks display at five different locations to celebrate the Reunification Day on the night of April 30.

Travel - Tue, April 30, 2024 | 12:56 pm GMT+7

Vietnam’s FDI sector posts $16.64 bln trade surplus in Jan-Apr

Vietnam’s FDI sector posts $16.64 bln trade surplus in Jan-Apr

Foreign-invested enterprises in Vietnam recorded a trade surplus of $16.64 billion in the first four months of 2024, with crude oil activities factored into account, according to the General Statistics Office.

Economy - Tue, April 30, 2024 | 11:50 am GMT+7

Vietnam attracts $9.27 bln in registered FDI from Jan-Apr, Ba Ria-Vung Tau top recipient

Vietnam attracts $9.27 bln in registered FDI from Jan-Apr, Ba Ria-Vung Tau top recipient

Registered foreign direct investment (FDI) in Vietnam reached $9.27 billion in the year to April 22, while disbursed FDI hit $6.28 billion, the highest figure in the last five years.

Economy - Tue, April 30, 2024 | 10:43 am GMT+7

Ninh Thuan grants investment certificates to 7 manufacturing, energy, infrastructure projects

Ninh Thuan grants investment certificates to 7 manufacturing, energy, infrastructure projects

The south-central province of Ninh Thuan has awarded seven investment registration certificates to projects in the fields of manufacturing, energy, and infrastructure, with total registered capital of VND4.88 trillion ($192.54 million).

Industries - Tue, April 30, 2024 | 10:33 am GMT+7

No more delays to HCMC 'super' port construction: experts

No more delays to HCMC 'super' port construction: experts

The construction of the $5.5 billion Can Gio “super” port in Ho Chi Minh City should not be delayed now that MSC, the world's leading shipping company, has proposed to invest in the mega project, said experts.

Infrastructure - Tue, April 30, 2024 | 7:00 am GMT+7

Private lender VPBank targets 114% profit growth in 2024

Private lender VPBank targets 114% profit growth in 2024

Vietnam’s leading private lender VPBank targets to rake in VND23.17 trillion ($914.18 million) in pre-tax profit this year, a year-on-year increase of 114%, according to its 2024 business plan approved by shareholders at the AGM on Monday.

Banking - Mon, April 29, 2024 | 11:13 pm GMT+7

Construction firm Lizen to focus on transport infrastructure, suspend some renewables projects

Construction firm Lizen to focus on transport infrastructure, suspend some renewables projects

With real estate market remaining sluggish and renewable energy policies yet to be finalized, construction firm Lizen has decided to focus on transport infrastructure and electrical engineering.

Companies - Mon, April 29, 2024 | 10:39 pm GMT+7

Speculative groups stand behind Hanoi apartment fever: association

Speculative groups stand behind Hanoi apartment fever: association

The recent apartment fever that has swept in Hanoi shows signs of being impacted by speculative groups who have created virtual supply and demand to push prices up, according to the Vietnam Association of Realtors (VARS).

Real Estate - Mon, April 29, 2024 | 4:07 pm GMT+7

Vietnam industrial production expands 6% in Jan-April

Vietnam industrial production expands 6% in Jan-April

Vietnam's index of industrial production (IIP) remained on an upward trend, rising 6.3% year-on-year in April and 6% in January-April this year.

Economy - Mon, April 29, 2024 | 3:50 pm GMT+7

Heat to gradually subside in northern and central regions from Wednesday

Heat to gradually subside in northern and central regions from Wednesday

Heat will gradually decrease from Wednesday in the northern and central regions; and from Saturday in the Central Highlands and the South, said the National Centre for Hydro-Meteorological Forecasting (NCHMF).

Society - Mon, April 29, 2024 | 3:22 pm GMT+7

Industrial real estate still leads Vietnam market: experts

Industrial real estate still leads Vietnam market: experts

Despite difficulties, industrial park real estate still leads the market, attracting sustainable foreign direct investment (FDI) to Vietnam, said experts.

Industrial real estate - Mon, April 29, 2024 | 2:38 pm GMT+7

Hanoi photo exhibition depicts Vietnam’s significant victories in 20th century

Hanoi photo exhibition depicts Vietnam’s significant victories in 20th century

A photo exhibition highlighting Vietnam’s victories that changed the course of world history is being held at the pedestrian space around Hoan Kiem Lake downtown Hanoi.

Travel - Mon, April 29, 2024 | 1:41 pm GMT+7