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Indonesia Invites Global Investors to Work on Electric Vehicles

Indonesian trade agreement with AustraliaJAKARTA – Head of the Investment Coordinating Board Indonesia (BKPM) Bahlil Lahadalia said the government continues to encourage the development of the electric vehicle ecosystem, one of which is by inviting global investors from Tesla to Volkswagen (VW).

Bahlil revealed that Indonesia has pocketed the investment plans of two global companies in the integrated battery industry, namely Contemporary Amperex Technology Co. Ltd (CATL) from China with an investment value of 5.2 billion US dollars and LG Chem from South Korea with an investment value of 9.8 billion US dollars. “BASF is in the communication process, Tesla is in the communication process. Then VW is also in the communication process,” he said, Wednesday (3/3).

Indonesia Targets Several Large Companies

Tesla is an electric vehicle from the United States. While VW is an automotive manufacturer from Germany, BASF is a chemical company from the same country. In BKPM’s notes, BASF is target to enter the precursor and cathode industry in the development of electric vehicle batteries.

Bahlil said, to attract investors, the Indonesian government will take care of all the permits. The government also promises fiscal incentives ranging from tax holidays to easy imports of capital goods and raw materials.

“So now investors come to BKPM which is related to strategic industries. We will provide fiscal incentives, we will give tax holidays, we will give a masterlist, we will take care of the permits. will take care, “he said on economic news.

Bahlil emphasized that despite giving the red carpet, the Indonesian government still prioritizes national interests. He request that national companies be involv in the investment process.

The former Chairman of Hipmi admits that he does not want the dark experience at Freeport to repeat itself. The reason is, when Freeport was built in the 1970s, the state did not participate optimally. “So, for example, like LG. We are joining our state-owned enterprises such as Antam, MIND ID, Pertamina and PLN together in the team at LG. So they joined it. Likewise CATL, we want everyone to be able and must collaborate with national entrepreneurs in the regions and MSMEs, “he said.

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