BRI Finance Expands Electric Vehicle Financing as Government Broadens EV Incentives
The government, through the Ministry of Investment and Downstreaming/Investment Coordinating Board (BKPM), has expanded incentives for electric vehicle manufacturers to accelerate the development of the electric vehicle ecosystem in Indonesia. This strategic measure is set out in Minister of Investment and Downstreaming/Head of BKPM Regulation No. 1 of 2024.
The policy contains two main schemes. First, import duty exemption (0%) and government-borne Luxury Goods Sales Tax (PPnBM DTP) for imports of battery-based electric cars. Second, PPnBM DTP incentives for battery-based electric vehicles manufactured domestically. The policy is expected to strengthen the competitiveness of the national electric vehicle industry and attract global automotive investors.
PT BRI Multifinance Indonesia (BRI Finance), a subsidiary of BRI Group, has expressed full support for the regulation. BRI Finance President Director Wahyudi Darmawan welcomed the government incentives and said the measure would boost public interest in electric vehicles.
"As a multipurpose financing company, BRI Finance is optimistic that electric vehicle financing, particularly for Battery Electric Vehicles (BEV), will grow significantly in 2025. Government policy certainly has a major influence on electric vehicle growth in Indonesia, from production and sales through to financing," said Wahyudi.
The electric vehicle trend in Indonesia is indeed on the rise. Beyond regulatory factors, growing public environmental awareness is a key driver. Electric cars offer a number of advantages including zero emissions, silent engines, and operational cost efficiency.
In response to these opportunities, BRI Finance continues to develop strategies to strengthen electric vehicle financing. "BRI Finance will continue to maximise the captive market, which holds great potential to support quality financing growth. We will also continue to innovate our strategies to increase electric vehicle financing, which is expanding rapidly," Wahyudi added.
BRI Finance currently offers a Motor Vehicle Credit (KKB) programme with competitive interest rates, including promotional rates of 0% per annum for new cars, 0.66% per month for used cars, and 0.7% per month for motorcycles. The programme has been in effect since 1 May 2025.
In addition to expanding its offerings, BRI Finance will also collaborate with its parent company, PT Bank Rakyat Indonesia (Persero) Tbk., to strengthen the sustainable financing ecosystem.
"This policy is in line with BRI Finance's commitment to promoting sustainable financing and supporting the transition to environmentally friendly vehicles in Indonesia," Wahyudi concluded.
The policy contains two main schemes. First, import duty exemption (0%) and government-borne Luxury Goods Sales Tax (PPnBM DTP) for imports of battery-based electric cars. Second, PPnBM DTP incentives for battery-based electric vehicles manufactured domestically. The policy is expected to strengthen the competitiveness of the national electric vehicle industry and attract global automotive investors.
PT BRI Multifinance Indonesia (BRI Finance), a subsidiary of BRI Group, has expressed full support for the regulation. BRI Finance President Director Wahyudi Darmawan welcomed the government incentives and said the measure would boost public interest in electric vehicles.
"As a multipurpose financing company, BRI Finance is optimistic that electric vehicle financing, particularly for Battery Electric Vehicles (BEV), will grow significantly in 2025. Government policy certainly has a major influence on electric vehicle growth in Indonesia, from production and sales through to financing," said Wahyudi.
The electric vehicle trend in Indonesia is indeed on the rise. Beyond regulatory factors, growing public environmental awareness is a key driver. Electric cars offer a number of advantages including zero emissions, silent engines, and operational cost efficiency.
In response to these opportunities, BRI Finance continues to develop strategies to strengthen electric vehicle financing. "BRI Finance will continue to maximise the captive market, which holds great potential to support quality financing growth. We will also continue to innovate our strategies to increase electric vehicle financing, which is expanding rapidly," Wahyudi added.
BRI Finance currently offers a Motor Vehicle Credit (KKB) programme with competitive interest rates, including promotional rates of 0% per annum for new cars, 0.66% per month for used cars, and 0.7% per month for motorcycles. The programme has been in effect since 1 May 2025.
In addition to expanding its offerings, BRI Finance will also collaborate with its parent company, PT Bank Rakyat Indonesia (Persero) Tbk., to strengthen the sustainable financing ecosystem.
"This policy is in line with BRI Finance's commitment to promoting sustainable financing and supporting the transition to environmentally friendly vehicles in Indonesia," Wahyudi concluded.