DIGIVESTASI - The electric vehicle (EV) market in Indonesia is currently being flooded by various Chinese brands that offer competitive prices and superior specifications. According to automotive expert and academic from the Bandung Institute of Technology (ITB), Yannes Martinus Pasaribu, this situation could put pressure on the sales of electric car brands from South Korea and Japan. "Chinese manufacturers, with more affordable prices, attractive features, and aggressive marketing strategies, are able to capture the attention of price-sensitive middle-class consumers," Yannes told *Bisnis* on Wednesday (August 14, 2024).

According to data from the Association of Indonesian Automotive Industries (Gaikindo), the most dominant battery electric vehicle (BEV) brand is BYD, with sales reaching 3,521 units in just two months. Specifically, BYD's sales in June reached 1,596 units, increasing to 1,925 units in July 2024. In Indonesia, BYD offers four models: the BYD M6 in the MPV segment, the BYD Atto 3 in the SUV segment, the BYD Dolphin hatchback, and the BYD Seal sedan. BYD's prices are also competitive, starting from IDR 379 million for the BYD M6, IDR 365 million for the BYD Dolphin, IDR 465 million for the BYD Atto 3, and IDR 629 million for the BYD Seal.

In addition to BYD, other Chinese brands that recorded high sales in July 2024 include the Chery Omoda E5 with 394 units and the Wuling Cloud EV with 550 units. Meanwhile, the South Korean brand PT Hyundai Motors Indonesia (HMID) managed to sell 379 electric vehicles, including the Ioniq 5, Ioniq 6, and Kona EV models. On the other hand, Japanese electric vehicle sales were lower. PT Toyota Astra Motors (TAM) only managed to sell two units of the Toyota bZ4X, while the Lexus UX 300e and RZ 450e, as well as the Mitsubishi L100 EV, did not record any sales in July 2024. Japanese electric vehicles, such as the Toyota bZ4X and Lexus models, are priced higher, starting from IDR 1.19 billion, while the Hyundai Ioniq 5 is priced from IDR 713 million and the Kona EV starts at IDR 499 million.

Yannes emphasized that Japanese and South Korean electric vehicle manufacturers need to develop more affordable EV models, improve production efficiency, strengthen their after-sales network, and innovate in technology and features to remain competitive. "The Chinese government's support for their EV industry also strengthens their position in the global market, including Indonesia. If South Korean and Japanese manufacturers do not adapt quickly, they could lose a significant market share," Yannes concluded.

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