Market Entry and Global Expansion
Chinese electric vehicle (EV) giant BYD is poised to launch its first model for the Indonesian market on January 18, 2024, marking a significant entry into the Southeast Asian nation.
Comprehensive Market Studies and Testing
Prior to its market debut, BYD conducted thorough studies on Indonesia’s automotive market. Comprehensive testing was carried out using the TransJakarta bus fleet and Blue Bird taxis, providing insights into diverse road conditions, weather variations, load considerations, and driving styles.
BYD’s Electric Vehicle Portfolio and Market Landscape
BYD already offers various electric vehicle models globally, including Atto 3, Dolphin, and Seal, with successful sales in Thailand. Prices range from Rp 400 million ($25,700) to Rp 700 million. Despite the global rise in battery electric vehicles (BEVs), Indonesia’s market penetration stands at only 1%, below the global average of 14% and the ASEAN average of 2%.
According to the Association of Indonesian Automotive Industries, the Hyundai Ioniq 5 Signature Extended led BEV sales in Indonesia from January to August 2023, with approximately 3,800 units sold. Wuling Air EV Long Range closely followed with over 2,100 units sold.
Global Performance and Investment Interest
BYD has outperformed Tesla globally, with total deliveries reaching 3.02 million units in 2023, including 1.4 million plug-in hybrid electric vehicles. The company expressed interest in investing in Indonesia, with President Joko Widodo visiting BYD’s Chengdu factory in July. The Indonesian government has prepared incentives to attract EV investments, aiming to establish assembly plants in the country.
Sourceļ¼jakartaglobe.id
