Indonesia's Electric Vehicle (EV) Industry on the Brink: $2.7B in Investments Under Threat A new tax imposed by the Indonesian government on electric vehicles (EVs) has sent shockwaves through the industry, threatening to derail $2.7 billion in investments made by major players. The tax, aimed at generating revenue for the government, could significantly increase the cost of EVs, making them less competitive in the market. With several major manufacturers, including Hyundai and Toyota, already operating in the country, the move has sparked concerns about the future of Indonesia's EV industry. As the government seeks to balance its finances, industry leaders are urging policymakers to reconsider the tax to avoid a potential economic backlash.
Indonesia's New EV Tax Threatens $2.7B in Investments Gotrade
