Indonesia Tax Cut Drives Electric Car Sales for Hyundai, Wuling
Sales of electric cars in Indonesia jumped last month after the government launched tax incentives, auto executives said, in an early sign that electric vehicle (EV) adoption is gaining traction in Southeast Asia’s largest economy.
Effective from April, Indonesia cut the value-added tax (VAT) on electric cars from 11% to just 1%, provided they are manufactured with at least 40% local content.
Photo courtesy of Ivan Shemereko.
Source: Reuters (link opens in a new window)
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