Indonesia to Significantly Reduce Value-Added Tax on Electric Vehicles

Published: Apr 3, 2023 15:11

Save

According to news, the Indonesian government announced on Monday that in order to further attract funds into the country, it has decided to reduce the value-added tax of electric vehicles from 11% to 1% to stimulate domestic consumer demand for electric vehicles.

The incentive will take effect this month and will last until the end of the year, Indonesia's Maritime and Investment Affairs Coordinating Ministry said in a statement.

Macro

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM's internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or for more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Sep 4, 2026 17:47

Sodium-ion Battery Cathode Shortage Continues, Hard Carbon Anode Awaits "Volume-for-Price" Breakthrough

The sodium-ion battery industry chain continued to gain momentum, with cathode and anode materials showing a "fire and ice" dynamic: the cathode materials segment faced tight supply-demand conditions and elevated costs, with orders being deferred, while the hard carbon anode segment remained mired in profitability pressure.

Sep 4, 2026 17:47

Sep 4, 2026 17:37

[SMM Manganese Ore Weekly Review] Spot Market Recovers, Traders Increasingly Hold Back from Selling

Sep 4 news: North China ports: 46% Australian lumps at 40.3-40.8 yuan/mtu, up WoW; South African semi-carbonate at 34-34.5 yuan/mtu, up WoW; Gabonese at 39.1-39.5 yuan/mtu, flat WoW; South African high-iron at 28.8-29.3 yuan/mtu, up WoW; South African medium-iron at 35.2-35.7 yuan/mtu, up WoW. South China ports: 46% Australian lumps at 42.7-43.2 yuan/mtu, flat WoW; South African semi-carbonate at 36.3-36.8 yuan/mtu, flat WoW; Gabonese at 40.6-41.1 yuan/mtu, flat WoW; South African high-iron at 30.2-30.7 yuan/mtu, flat WoW; South African medium-iron at 37-37.5 yuan/mtu, flat WoW. The manganese ore market has recovered slightly, with traders increasingly holding back from selling, and overall prices consolidating sideways.

Sep 4, 2026 17:37

Sep 4, 2026 17:30

SMM Daily Review: Lithium Carbonate Spot Prices Drifted Lower on September 4

Today, SMM battery-grade lithium carbonate spot prices drifted lower compared with the previous working day. The lithium carbonate 2701 contract opened higher at 150,500 yuan/mt today, then moved sideways above the average price line after the open, hitting an intraday high of 152,300 yuan/mt in early trading. Prices weakened around midday and broke below the average price line. In the afternoon, bears stepped up selling pressure, sending prices steadily lower to an intraday low of 140,500 yuan/mt. In late trading, prices consolidated at lows and closed near 141,900 yuan/mt, ultimately settling down 7.41% at 141,900 yuan/mt, with open interest falling by 1,647 lots. In the spot market, downstream buyers were buying the dip to stockpile for September and October, while upstream lithium chemical plants showed weak willingness to sell spot cargoes. Overall, market inquiries and actual transactions were relatively active.

Sep 4, 2026 17:30