The Financial Services Authority (OJK) recorded that electric vehicle financing as of August 2024 reached Rp 29.07 trillion (roughly US$1.8 billion), accounting for 5.53 percent of total financing receivables. 

 

"Considering this development and the government's support in building the electric vehicle ecosystem, electric vehicle financing is expected to continue increasing in the future," said Agusman, Executive Head of Financing Institutions Supervision, Venture Capital Companies, Microfinance Institutions, and Other Financial Services Institutions of OJK, in Jakarta on Thursday. 

 

Agusman stated that the increase in electric vehicle financing in the future could contribute to accelerating the formation of a green financing ecosystem in Indonesia. 

 

Meanwhile, two-wheeled motor vehicle financing as of August 2024 increased by 12.94 percent year on year (yoy) to Rp 108.49 trillion. 

 

Two-wheeled motor vehicle financing is projected to still have growth potential until the end of 2024, considering the positive growth amid the decline in motor vehicle sales. 

 

According to him, factors that could support the demand for two-wheeled motor vehicles include increased purchasing power and the need for personal transportation. 

 

The outstanding financing for two-wheeled motor vehicles as of August 2024 accounted for 20.63 percent of total motor vehicle financing. 

 

Meanwhile, the outstanding financing for four-wheeled motor vehicles, both new and used, as of August 2024 increased by 12.58 percent (yoy) to Rp 240.86 trillion.