Indonesia hopes to start mass production of homegrown electric cars in 2028, president says

JAKARTA — Indonesia hopes to start the mass production of homegrown electric cars no later than 2028, President Prabowo Subianto said on Thursday (Aug 13), in an effort to increase the adoption of electric vehicles in Southeast Asia’s largest economy.Below are the details:The president said the government is currently building a huge factory complex to manufacture the electric cars in the Subang region of West Java province.Prabowo was referring to a 60-hectare development that aims to produce up to 50,000 vehicles annually and then expand into a 539-hectare facility with capacity of up to 300,000 vehicles per year, according to a statement from the government in June.Prabowo announced the target at the launch of a national electric motorcycle programme, which aims to build an integrated ecosystem spanning manufacturing, batteries, charging and after-sales services.To boost electric scooter sales, state-owned lenders will offer cheap vehicle loans with longer tenors, Rosan Roeslani, CEO of Indonesian sovereign wealth fund Danantara, said at the same event.