OJK: Multifinance Electric Vehicle Financing Reaches IDR 16.63 Trillion

Illustration. (Photo: Doc. Antara)

JAKARTA - The Financial Services Authority (OJK) noted that the distribution of electric vehicle financing from the multi-finance sector reached IDR 16.63 trillion as of December 2024.

"The distribution of electric vehicle financing as of December 2024 reached Rp. 16.63 trillion or 3.31 percent of the total financing receivables," said the Chief Executive of the Financing Institution, Ventura Capital Company, Micro Financial Institution, and other Financial Services Institutions OJK Agusman, quoted by Antara, Tuesday, March 11.

By looking at these developments, Agusman continued, the financing of electric vehicles in the future still has great potential to continue to be increased.

Moreover, the government also supports the development of an electric vehicle ecosystem.

In addition to the potential for improvement, Agusman also assessed that the performance of electric vehicle financing shows the opportunity to accelerate the formation of green financing in Indonesia.

Previously, PT PLN (Persero) said that electric vehicle (EV) users in Lebaran 2025 were projected to increase by 500 percent or as many as 21,570 vehicles, compared to last year's 4,314 vehicles.

The Ministry of Industry (Kemenperin) continues to improve regulations to accelerate the adoption of battery-based electric vehicles (EVs) in Indonesia.

Industry Trustees and Deputy Chairperson of the Non-KBLBB Non-KBLB Land Transportation Industry Working Team of the Ministry of Industry Rasyad said the ministry had prepared various regulations to support the policy.

One of the policies taken is the Minister of Industry Regulation (Permenperin) Number 36 of 2021 concerning the program of four-wheeled vehicles with low carbon emissions or low carbon emissions vehicles (LCEV).

Even though various regulations have been prepared, Kemal assesses that the government must continue to adapt to technological developments.

According to him, currently the focus of developing batteries is still on lithium ferro phosphate (LFP) or manganesecobalt (NMC) technology.

With the development of this industry, Kemal continued, the Ministry of Industry as a regulator will continue to adjust policies so that they continue to be relevant to technological advances.