Indonesia’s EV dreams have a bumpy road ahead

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Hello there,

I recently learned how to drive a car. It’s almost an essential skill in the place I live, Goa. This Indian state is as known for its beaches as it is for its unreliable and expensive ride-hailing service, so I’m excited to buy a car now that I can drive one.

My knowledge of four-wheelers is limited, but that has only encouraged me to notice the make and model of every car I see. Not surprisingly, I’ve been toying with the idea of opting for an electric car since those are increasingly becoming popular. However, with limited electric vehicle (EV) models to choose from, they aren’t the most pocket-friendly.

Much like in India, the demand for EV cars in Indonesia is growing. For instance, my colleague Putra notes in this week’s Big Story that Wuling Air EV managed to sell 8,000 units in Indonesia in just three months after its launch.

Aside from Wuling, several other manufacturers are rolling out their EV operations in the country. Most notable among them is Tesla, which is reportedly looking to close a deal to build an EV plant in Indonesia that could manufacture 1 million cars per year.

Equipped with automobile manufacturing capabilities and being a top nickel exporter – a key ingredient for EV batteries – Indonesia makes for a very attractive proposition for EV players. Yet several roadblocks hold back the country’s EV dreams.

Speaking of roadblocks, in our second Big Story, I explore the ground realities of what laid-off tech workers are facing now. While experts say that there are plenty of jobs available, expectations of employees and employers have increased significantly. Many workers are even preferring to join non-tech firms over startups in hopes of job security.

Shifting gears to some positive news, Vickers Venture Partners’ Finian Tan shares with my colleague Nikita that the VC firm will invest up to US$30 million more into Asian startups this year. More in this week’s Making Waves.

— Collin

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THE BIG STORIES

1️⃣ Indonesia courts Tesla but faces EV roadblocks

In spite of its nickel reserves, the country’s EV story has big challenges, including not having a local car brand.

2️⃣Where are SEA’s laid-off techies headed?

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MAKING WAVES

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AI ODYSSEY

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FYI

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NEWS YOU SHOULD KNOW

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