State battery company Indonesia Battery Corporation (IBC) is targeting a local market share of up to 30% for electric motorbikes, its chief executive said on Friday, as the government tries to jumpstart the adoption of electric vehicles.
The government is aiming to reach 2 million sales of electric motorbike in 2025 as the Indonesia attracts billion of dollars of investment in processing its rich nickel reserves into battery materials.
Indonesia sold less than 40,000 electric motorbikes between 2019 and 2022, while its total motorbike sales in 2022 alone were 5.22 million units, industry data showed. IBC last year acquired majority stakes in PT Wika Industri Manufaktur, producer of electric scooters Gesits, which currently has production capacity of 40,000 units per year.
"In the next few years the capacity could reach 75,000 to 100,000 units. So of the total government target, our target is to have 25% to 30% market share, which is already pretty good," IBC chief executive Toto Nugroho told Reuters.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Ohio State Hockey Tabbed a 3-Seed in Conference Tournament, Set to Host Penn StateAfter dropping a pair of games at Minnesota this weekend, Ohio State's men's ice hockey team will be a No. 3 seed in the conference tournament set to begin next weekend.
Read more »
Kane County sheriff and state legislators clash in letters over state assault weapons banFive Democratic Kane County lawmakers responded to Kane County Sheriff Ron Hain’s recent criticism over the state’s new assault weapons ban after he spoke out during a Kane County Board committee meeting and said he was embarrassed to be a Democrat.
Read more »
Rutgers stabilizes season with epic comeback at Penn StateRutgers faced Penn State at the Bryce Jordan Center in State College, Pennsylvania, on Sunday night.
Read more »
First Big U.S. EV-Battery Plant Offers Lessons as Industry Springs UpJapan’s Panasonic warns newcomers of hurdles as the EV-battery maker leverages on its experience to boost U.S. production.
Read more »
HMD’s latest Nokia phone is designed to be repaired in minutesFive minutes for its battery, 20 for its screen.
Read more »
We Tested the Best All-Electric Boats on the Water. Here Are Our 3 Favorites.These vessels aren't messing around. We put the best electric boats to the test, and these three shined brighter than the rest.
Read more »