Indonesia Automotive: BEV incentive reductions under review

研报英文原文证据摘录

Indonesia Automotive: BEV incentive reductions under review

Global Research

27 July 2026ab

Indonesia Automotive Equities

IndonesiaBEV incentive reductions under review

Industrial, Diversified

Igor Putra

Jakarta regional government and MoF targeting two BEV schemes Analyst

Overall, we expect non-BEV (ICE) and nickel-based BEV OEMs to be better placed than igor.putra@ubs.com

non-nickel (LFP) BEV OEMs under the planned new BEV schemes. We argue Astra +62-21-2554 7033

International (rated Buy) stands out in this context for its leading ICE and hybrid market Ivan Reynaldo Sutheja

share. 1) Jakarta, a key region for automotive sales in Indonesia, is considering a new Analyst

BEV incentive scheme linked to BEV ASPs (with higher incentives for lower ASPs and vice ivan-reynaldo.sutheja@ubs.com

versa). This comes amid data indicating the Jakarta region could lose Rp2trn of revenue +62-21-2554 7037

in H126 from the vehicle tax (PKB) and vehicle title transfer duty (BBNKB) because BEVs Kohei Takahashi

are exempt from these taxes. 2) The MoF has also proposed a new VAT incentive for up Analyst

to 100k BEV units, under which nickel-based BEVs would receive a 100% VAT reduction kohei.takahashi@ubs.com

and LFP BEVs would receive a 40% reduction. The MoF is awaiting input from the +81-3-5208 6172

Ministry of Industry and Danantara. Paul Gong

Analyst

BEV cost of ownership would rise for buyers paul.gong@ubs.com

+852-2971 7868

Under the tiered-incentive proposal, the Jakarta regional government would lower the

PKB and BBNKB exemptions from 100% to 75%/65%/50%/25% for BEVs with ASPs Yoon Cho

below Rp300m/Rp300-500m/Rp500-700m/above Rp700m, respectively, raising BEV Analyst

buyers' costs by 4%/5%/7%/11%, respectively, in the first year of ownership. On a like- yoon.cho@ubs.com