![Indonesia is making it easier to get loans to purchase an EV 01]()
Indonesia is taking its next step into a sustainable future as the country’s Financial Services Authority (OJK) has announced that they want to make getting a loan to purchase an electric vehicle (EV) easier.
OJK said in a statement that the new development is the next step in the government’s 2019 regulation aimed at accelerating the development of domestic vehicle industries.
This will see the easing of rules on credit assessments and risk calculations for purchase loans of EVs. This means that getting a loan to purchase an EV will be much easier from now on.
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Other than that, the easing of lending rules will also affect business loans that industries linked to the manufacturing of EV components and batteries applied from banks. This is a bid to boost investment in the sector.
Meanwhile, loans related to the development of infrastructure such as charging stations will be exempted from the limits as well.
The central bank has also removed loan down-payment requirements for environmentally friendly vehicles as well for lenders with low non-performing ratio levels in its last policy meeting in a bit to boost consumption.
Indonesia is not the only country that has taken the next step into an electrified future. Our neighbours over in Thailand have also introduced a new incentive to encourage car owners to change their current cars for new electric vehicles.
Source: Reuters
There isn’t a time in memory that doesn’t involve staring at cars. After discovering the excitement of watching Schumacher vs Hakkinen, Formula 1 became a major part of life. The love for cars and F1 ultimately led to a job with CAR Magazine. The untimely death of the magazine meant a hiatus from cars at lifestyle women’s magazine Marie Claire before another opportunity came knocking again.
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