Investor Presentaiton
APPENDIX - Other Asian countries are advancing their EV policies to encourage more adoption
Country
EV Targets
China
100% EV by 2035
Ban/Restrictions/Disincentives on
ICEV
Incentives: tax exemptions (TE), tax reduction
(TR) and/or cost reductions (CR)
2035 ICEV ban
(50% EV:50% hybrid)
Charging infrastructures
(units)
1. CR: USD 1500 - 3600
2. TR: 50% vehicle registration fee
3. TE: USD 1000s TE
4. CR: USD 72,000 for FCEV bus/truck
1.1 million in 2022
2. Stopped issuing licenses for diesel-
powered cars & taxis in 2025
1. CR: USD 34,000
2. TR: 34% road taxes for 90-230 kW EV
1. 3,000 in 2022
2. 60,000 by 2030
1. 100%
vehicle running
cleaner energy by 2040
on
1. 2040 ICEV ban
Singapore
2. 100%
zero-emission vehicle
(ZEV) sales by 2030
South Korea
33.3% EV by 2030 (3.62 million
units)
2035 ICEV ban
1. E4W: 30% by 2030
India
2. E2W: 40% by 2030
1. 5.4 million units by 2030
Thailand
2030 ICEV ban
2. 50% of total EVS are 2035 ICEV ban
domestically produced by 2030
CR: USD 7,867 - 23,601
1. CR: USD 244 each for 100,000 E2WS
2. CR: USD 1800 for 35,000 E4Ws
3. CR: USD 158-244 for HEVS
1. 170,000 in 2022
2. 1.8 million by 2030
1. 1,640 in 2022
2. 23,524 by 2030
1. CR: USD 2,100 (10 - 30 kWh) - 4,500 (>30 kWh) for 1.2,572 in 2022
E4W
2. CR: USD 550 for E2W
2. 12,000 by 2030
Malaysia
Undefined
Undefined
1. Motorbike restrictions in major cities
in 2030
1. TE: for CBU (2023) and CKD (2025) EVS
2. TR: 590 USD
1. 700 in 2022
2. 10,000 by 2025
1. 40,000 in 2022
Vietnam
3.5 million units by 2040
2. ICEV registration fee increase 50% by TE: Registration fee exemption until 2027
2. 150,000 target
2027
3. Nationwide ICEV ban by 2050
Indonesia
1. E2W: 13 M by 2030
2. E4W: 2M by 2030
Undefined (did not sign the 100% EV 1. TE: Luxury Goods Tax
1.570 in 2022
pledge during COP26)
2. CR: USD 470 for E2W (proposed)
2. 25,000 by 2030
Source: Adapted from McKinsey (2022)
Indonesia Electric Vehicle Outlook 2023
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