Indonesia's Electric Vehicle Financing Market Shows Strong Growth

Surge in EV Financing Driven by New Models and Government Support

Indonesia's electric vehicle (EV) financing market is witnessing a significant surge, with major multifinance companies reporting substantial growth in their EV loan portfolios. By November 2025, PT Mandiri Utama Finance (MUF) recorded a 131% year-on-year increase in EV financing ¹

, while PT Adira Dinamika Multi Finance (ADMF) reported an even higher growth rate of 149% during the same period ²

Source 2

https://finansial.bisnis.com/read/20251222/89/1938700/kredit-mobil-listrik-adira-finance-admf-ngegas-tumbuh-149-per-november-2025

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Key Drivers of EV Financing Growth

1. Increasing availability of new EV models: The growing number of EV models entering the Indonesian market, particularly from Chinese manufacturers, has been a major factor driving the growth in EV financing. These new models offer competitive pricing and advanced features, making them more attractive to consumers ²
   Source 2

   https://finansial.bisnis.com/read/20251222/89/1938700/kredit-mobil-listrik-adira-finance-admf-ngegas-tumbuh-149-per-november-2025
   ⁴
   Source 4

   https://finansial.bisnis.com/read/20251222/89/1938765/pembiayaan-mobil-listrik-tumbuh-seiring-maraknya-model-baru
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2. Government incentives: Supportive government policies, including tax incentives and import duty exemptions, have played a crucial role in promoting EV adoption and financing ²
   Source 2

   https://finansial.bisnis.com/read/20251222/89/1938700/kredit-mobil-listrik-adira-finance-admf-ngegas-tumbuh-149-per-november-2025
   ¹
   Source 1

   https://keuangan.kontan.co.id/news/pembiayaan-mobil-listrik-mandiri-utama-finance-muf-tumbuh-131
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3. Expanding EV ecosystem: The development of supporting infrastructure and ecosystem for EVs is enhancing consumer confidence and driving demand for EV financing ⁴
   Source 4

   https://finansial.bisnis.com/read/20251222/89/1938765/pembiayaan-mobil-listrik-tumbuh-seiring-maraknya-model-baru
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Challenges Facing EV Financing

Despite the positive growth trends, industry experts highlight several challenges that need to be addressed:

1. Resale value concerns: The uncertainty surrounding the resale value of EVs remains a significant challenge for both consumers and financiers ³
   Source 3

   https://finansial.bisnis.com/read/20251222/89/1938819/resale-value-jadi-tantangan-dalam-penyaluran-pembiayaan-mobil-listrik
   ⁴
   Source 4

   https://finansial.bisnis.com/read/20251222/89/1938765/pembiayaan-mobil-listrik-tumbuh-seiring-maraknya-model-baru
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2. Infrastructure limitations: The limited availability of charging infrastructure in certain regions continues to be a constraint for widespread EV adoption ²
   Source 2

   https://finansial.bisnis.com/read/20251222/89/1938700/kredit-mobil-listrik-adira-finance-admf-ngegas-tumbuh-149-per-november-2025
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3. Market competition: With over 20 EV brands now available in Indonesia, the market is becoming increasingly competitive, which may impact the long-term viability of some newer entrants ³
   Source 3

   https://finansial.bisnis.com/read/20251222/89/1938819/resale-value-jadi-tantangan-dalam-penyaluran-pembiayaan-mobil-listrik
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Industry Outlook

The Otoritas Jasa Keuangan (OJK) reported that total EV financing by multifinance companies reached Rp17.64 trillion by October 2025, representing a 2.70% month-on-month growth ²

. Industry experts predict continued growth in the EV financing market, although at a potentially moderated pace in the short term due to the challenges mentioned above.