BRI Finance Backs Government's Electric Vehicle Incentive Policy with Competitive Financing Schemes
Jakarta — In an effort to accelerate the development of the electric vehicle ecosystem in Indonesia, the government, through the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM), has launched a new policy providing attractive incentives for electric vehicle manufacturers.
Minister of Investment and Downstreaming/Head of BKPM Regulation Number 1 of 2024 encompasses two main types of incentives: import duty exemption (0%) and Government-Borne Luxury Goods Sales Tax (PPnBM DTP) for the import of battery-based electric vehicles, as well as PPnBM DTP incentives for domestically produced electric cars. The measure is expected to attract investment interest from global automotive manufacturers and strengthen the national electric vehicle industry.
In response to this policy, PT BRI Multifinance Indonesia (BRI Finance), a subsidiary of BRI Group, has expressed its full support. BRI Finance President Director Wahyudi Darmawan voiced his hope that the policy would increase market interest in electric vehicles, which in turn would drive growth in electric vehicle credit.
"Government policy has a significant influence on the growth of electric vehicles in Indonesia, from production through to financing," said Wahyudi.
The trend of electric vehicle usage in Indonesia is on the rise, in line with growing public awareness of environmentally friendly vehicles. Electric cars offer various advantages over conventional vehicles, such as zero emissions that help reduce air pollution, quieter engines, and lower operating costs.
Wahyudi added that BRI Finance is committed to developing electric vehicle financing strategies, including offering attractive financing schemes with competitive interest rates. Currently, BRI Finance offers a Motor Vehicle Credit (KKB) programme with competitive interest rates, including a promotional rate of 0% per annum for new cars and 0.66% per month for used cars, effective from 1 May 2025.
"BRI Finance will continue to maximise the captive market, which holds great potential to support the growth of quality financing disbursement. We will continue to innovate our strategies to increase financing for the growing electric vehicle sector," Wahyudi concluded.
Minister of Investment and Downstreaming/Head of BKPM Regulation Number 1 of 2024 encompasses two main types of incentives: import duty exemption (0%) and Government-Borne Luxury Goods Sales Tax (PPnBM DTP) for the import of battery-based electric vehicles, as well as PPnBM DTP incentives for domestically produced electric cars. The measure is expected to attract investment interest from global automotive manufacturers and strengthen the national electric vehicle industry.
In response to this policy, PT BRI Multifinance Indonesia (BRI Finance), a subsidiary of BRI Group, has expressed its full support. BRI Finance President Director Wahyudi Darmawan voiced his hope that the policy would increase market interest in electric vehicles, which in turn would drive growth in electric vehicle credit.
"Government policy has a significant influence on the growth of electric vehicles in Indonesia, from production through to financing," said Wahyudi.
The trend of electric vehicle usage in Indonesia is on the rise, in line with growing public awareness of environmentally friendly vehicles. Electric cars offer various advantages over conventional vehicles, such as zero emissions that help reduce air pollution, quieter engines, and lower operating costs.
Wahyudi added that BRI Finance is committed to developing electric vehicle financing strategies, including offering attractive financing schemes with competitive interest rates. Currently, BRI Finance offers a Motor Vehicle Credit (KKB) programme with competitive interest rates, including a promotional rate of 0% per annum for new cars and 0.66% per month for used cars, effective from 1 May 2025.
"BRI Finance will continue to maximise the captive market, which holds great potential to support the growth of quality financing disbursement. We will continue to innovate our strategies to increase financing for the growing electric vehicle sector," Wahyudi concluded.