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Investor Presentaiton

Decarbonization Strategy Indonesia Electric Vehicle Outlook 2023 Electrification of road transport as a quick and ready-to-implement strategy of transport sector decarbonization • Road transport is the biggest source of emissions in the demand side of energy sector in Indonesia. Decarbonization of road transportation requires both changes in traveling behavior to reduce demand and transition to clean energy to cover the remaining demand (Agora Verkehrswende, 2017). Similar concept is also suggested by the Avoid-Shift-Improve (ASI) strategy (SLOCAT, 2018). Changes in traveling behavior are achieved by reducing unnecessary travel (Avoid) and shifting to low-carbon modes (Shift), while transition to clean energy is achieved by improving efficiency and switching to electric vehicles or low-carbon fuels (Improve). • Switching to electric vehicles (EV) is a key strategy to road transportation decarbonization, as it has the potential to reduce emissions concurrently with the power sector decarbonization. The increased electricity demand from EVs would provide an opportunity to accelerate the deployment of renewable energy (RE). In the long term, it could facilitate the deep integration of RE by providing flexible demand through vehicle-to-grid operation. • The emission reduction potential of EVs can be obtained at low cost, or even negative cost. The total cost of ownership (TCO) of a passenger EV could be lower than a comparable internal combustion engine vehicle (ICEV). For ride-hailing service providers, switching to electric 2-wheelers allows them to save up to IDR 700 thousand per month. In addition, unlike the Avoid and Shift strategy, which requires the government's systematic planning, everyone can participate in the Improve strategy by purchasing EVs. Key Elements Avoid Shift Avoid Shift - Improve Strategy Definitions Avoid and reduce the need for motorized travel TCC-GSR Policy Examples Transport Demand Management Shift to more environmentally friendly modes Urban Public Transport Railway Walking and Cycling New Mobility Services Improve Improve energy efficiency Source: SLOCAT, 2018 of transport modes Fuel Economy Electric Mobility Renewable Energy The geometry of the transport transformation Mobility Transition The transition to sustainable mobility will reduce energy consumption without limiting mobility. Transport Transformation This large-scale transformation will ensure that transport is carbon neutral by 2050. Source: Agora Verkehrswende, 2017 學 + 9 Energy Transition in Transport The transition to clean energy in the transport sector will cover remaining demand with carbon-neutral energy. 12
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