Indonesia electric vehicle financing sees significant growth

Electric vehicle (EV) and hybrid financing in Indonesia is experiencing significant growth. According to data from the Financial Services Authority (OJK), financing for electric and hybrid vehicles grew by 34.67 percent year-on-year in August 2026, reaching Rp26.20 trillion. This expansion occurs even as total motor vehicle financing contracted by 0.68 percent year-on-year to Rp403.02 trillion.

Specific segments show even sharper shifts. OJK data noted that used electric and hybrid vehicle financing grew by 103.06 percent year-on-year to Rp1.52 trillion in July 2026, while conventional used car financing contracted by 4.52 percent.

BRI Finance reported that its new car financing disbursement increased approximately 9.4 times. Company representatives attributed the trend to shifting consumer preferences, increased public awareness, a wider variety of available models, and the developing EV ecosystem and infrastructure in Indonesia.