Jakarta (ANTARA) - Indonesia’s electric motorcycle market presents a massive US$170 billion investment opportunity, Investment and Downstreaming Minister and CEO of Danantara Rosan Perkasa Roeslani stated.

Rosan pointed out that out of approximately 140 million motorcycles currently on Indonesian roads, annual vehicle sales reach six to seven million units. However, annual sales of electric motorcycles remain low, hovering between 60,000 and 70,000 units.

"So, (the market share of electric motorcycles) is only one percent. If we look at the future potential, the upside could be exponential," the minister said at the launch of the national electric motorcycle (Molinas) initiative and its supporting ecosystem in Cikarang, West Java, on Thursday.

Related news: Indonesia launches Molinas in push for electric vehicle self-reliance

To capitalize on this immense market potential, Rosan noted that ten domestic manufacturers have already fulfilled the domestic component level (TKDN) requirements set by the Industry Ministry.

State-owned defense and tech firm PT Len Industri has also been brought in to ensure local production adheres to international quality standards.

"The goal is not only to become champions in Indonesia, but also champions regionally, and even globally," Rosan remarked.

Related news: Indonesia EV incentive scheme to focus on domestic high-value products

The inauguration took place at the PT Ilectra Motor Group (ALVA) manufacturing plant in Cikarang, led directly by President Prabowo Subianto.

In his address, President Prabowo commended private sector actors who have taken the initiative to manufacture domestic electric vehicles despite stiff competition from established Asian industry giants in China, Japan, and South Korea.

The President praised these business efforts as a tangible manifestation of "Indonesia Incorporated"—a collaborative model between the state and private enterprise aimed at safeguarding national interests, particularly by reducing national dependence on imported fuel.

This news was published on Antaranews.com with a title: Minister sees US$170 bln potential in RI electric motorcycle market

Pewarta: Putu Indah Savitri, Yashinta Difa
Editor : Mahdani

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