Recording Positive Performance, Electric Vehicle (EV) Financing Grows Significantly

Mandiri Utama Finance (MUF), a subsidiary of Bank Mandiri specialising in motor vehicle financing, recorded positive performance throughout 2025 despite challenges within the automotive industry and recovering consumer purchasing power. Throughout 2025, MUF booked growth in motor vehicle financing distribution, primarily supported by the four-wheel vehicle segment, which continues to demonstrate strong performance. This achievement reflects the resilience of MUF’s business in maintaining growth amidst challenging economic conditions.

In terms of portfolio, electric vehicle (EV) financing has emerged as one of the most significantly growing segments. Throughout 2025, MUF’s EV financing grew by almost twice the amount of the previous year, with an increasing contribution to the company’s total motor vehicle financing.

The Director of PT Mandiri Utama Finance, Dapot Parasian Sukoco Sinaga, stated that this development reflects a structural change in consumer preferences towards more sustainable mobility. This increase also indicates a strengthening public interest in electric vehicles in Indonesia. “The growth of electric vehicles reflects a shift in consumer preference towards more environmentally friendly mobility, which is further supported by the expanding electric vehicle ecosystem in Indonesia,” said Dapot in Jakarta on Wednesday.

He assessed that the acceleration of EV financing is driven by several factors, including lower operational cost efficiencies compared to fossil-fuel vehicles, increasing product variety in the market, and government incentives that enhance the attractiveness of EVs to the public. Regarding financing quality, Dapot continued that MUF maintains healthy and prudent performance. “The non-performing financing (NPF) ratio, including in the electric vehicle segment, is at an improving level and remains well below the multi-finance industry average,” he concluded.