This country eases lending rules for electric vehicles

Indonesia is keen to create a full nickel supply chain industry, starting from mining the ore, extract nickel chemicals used in EV batteries, down to building EVs at home.
By : Reuters
| Updated on: 04 Sep 2020, 03:26 PM
Indonesia has eased lending rules for the purchase of electric vehicles. (Bloomberg)
Indonesia has eased lending rules for the purchase of electric vehicles. (Bloomberg)
Indonesia has eased lending rules for the purchase of electric vehicles. (Bloomberg)
Indonesia has eased lending rules for the purchase of electric vehicles.

Indonesia has eased lending rules for the purchase of electric vehicles (EVs) and on business loans linked to their manufacturing in a bid to boost investment in the sector, the financial services authority (OJK) said on Friday.

In a statement, OJK said it ha eased rules on credit assessments and risk calculations for loans to buyers of EVs as well as for industries manufacturing components and batteries.

Similar Cars

Find More Cars
Tata Tigor Ev (HT Auto photo)
Tata Tigor Ev
Electric | Automatic
₹11.99 - 13.14 Lakhs**Ex-showroom price
Tata Altroz Ev (HT Auto photo)
UPCOMING
Tata Altroz Ev
 
₹12 - 15 Lakhs* *Expected Price
Tata Nexon Ev (HT Auto photo)
Tata Nexon Ev
Electric | Automatic
₹13.99 - 16.85 Lakhs**Ex-showroom price
Tata Nexon Ev Max (HT Auto photo)
Tata Nexon Ev Max
Electric | Automatic
₹17.74 - 19.24 Lakhs**Ex-showroom price
Mg Zs Ev (HT Auto photo)
Mg Zs Ev
Electric | Automatic
₹21 - 24.68 Lakhs**Ex-showroom price
Mg Zs Ev 2022 (HT Auto photo)
Mg Zs Ev 2022
Electric | Automatic
₹21.99 - 25.88 Lakhs**Ex-showroom price

It also said loans related to the development of infrastructure, such as charging stations, could be exempt from limits set by OJK.

The move follows the government's 2019 regulation aimed at accelerating the development of domestic electric vehicle industries, it said.

FOLLOW US:Stay Updated with latest content - Subscribe us on
FOLLOW US:Stay Updated with latest content - Subscribe us on

Indonesia is keen to create a full nickel supply chain industry, starting from mining the ore, extract nickel chemicals used in EV batteries, down to building EVs at home.

Indonesia this year stopped exports of unprocessed nickel ore to ensure its nickel supply will be processed domestically, including for the battery chemical plants that are currently under constructions.

The central bank also removed loan downpayment requirements for purchases of environmentally-friendly vehicles for lenders with low non-performing ratio levels in its last policy meeting in a bid to boost consumption.

First Published Date: 04 Sep 2020, 03:26 PM IST
Recommended For You
View All
NEXT ARTICLE BEGINS

Please provide your details to get Personalized Offers on

Choose city
+91 | Choose city
Choose city
Choose city
By clicking VIEW OFFERS you Agree to our Terms and Privacy Policy

Dear Name

Please verify your mobile number.

+91 | Choose city