An electric revolution:

The rise of Indonesia’s e-motorcycle

An Electric Vehicle White Paper
September 2023
Introduction
The automotive industry in Indonesia is undergoing a profound
transformation, with electric vehicles (EVs) at the forefront of change.
Among these, electric motorcycles are becoming the catalyst towards
adoption in renewable energy, with a 13.2x increase in the last 2 years.
Deloitte Indonesia and Foundry are excited to present this white paper to
explore the EV market, analyzing its potential, infrastructure, and
innovative business model that can boost adoptions in Indonesia.

With its unique motorcycle landscape, Indonesia is well-suited for the EV

revolution. This research aims to provide a comprehensive view of the
electric motorcycle landscape, covering market dynamics, technology
advancements, regulations, and consumer preferences. Deloitte Indonesia
and Foundry collaborated to provide insights to empower stakeholders to
make informed decisions, driving the transformation towards a sustainable,
electrified future for Indonesian transportation.

An electric revolution: The rise of Indonesia’s e-motorcycle 2

About Deloitte
Deloitte Indonesia
Deloitte Indonesia are independent firms that provide auditing, consulting,
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An electric revolution: The rise of Indonesia’s e-motorcycle 3

About Foundry

Foundry is a thriving ecosystem platform in Indonesia, seamlessly connecting champions of innovation,

including enterprises, visionary tech founders, government and regulatory bodies, and esteemed global
partners. Our primary mission is to cultivate a culture of collaboration and industry growth through the
exchange of ideas, educational initiatives, and strategic business partnerships.

At Foundry, we are passionately committed to accelerating the advancement of Indonesia's digital

economy, paving the way for emerging leaders who can catalyze transformative change on a grand scale.
Our network serves as a catalyst for several critical objectives, including nurturing valuable relationships
with influential leaders and corporates through engaging events and collaborations, providing insights and
resources to them, and empowering visionary founders to launch impactful ventures.

Foundry's mission is rooted in the idea of uniting champions from diverse industries, pooling resources,
and fostering innovation to drive progress within our beloved nation and society at large.

contact@foundry.id
www.foundry.id

An electric revolution: The rise of Indonesia’s e-motorcycle 4

Contents
1 Indonesian electric motorcycle opportunity

2 E-motorcycle target

3 Barriers of adoption

4 Industry Landscape

5 Opportunities & challenges

6 Related regulations

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An electric revolution: The rise of Indonesia’s E -motorcycle | Indonesia | 2023

The state of Indonesia’s

electric motorcycle opportunity
As the 3rd largest motorcycle country in the 13.5 Million e-motorcycle +264% CAGR
world, Indonesia’s e-motorcycle industry Indonesian government target by 2030 On Indonesia’s E-motorcycle market (2020-2022)
showcases a huge $19.2 Billion* opportunity
from both the manufacturers and energy
distribution standpoint

* Notes: assuming $1,300 avg. price of e-motorcycles

Number of E-motorcycle
Source(s): Ministry of Transportation Indonesia, Ministry on-the-road (total population) 2030 (Govt. Target)
of Energy and Mineral Resources) # E-motorcycles 13.5 million
Total # of EV 15.7 million

2022
# E-motorcycles 25,782 470x target
2021 increase
# E-motorcycles 5,486 Total # of EV 33,461
2020
# E-motorcycles 1,947 Total # of EV 7,498
Total # of EV 2,176
4.7x growth
2.8x growth
An
An electric
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e-motorcycle 6
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Indonesia’s $19.2 billion electric motorcycle opportunity

- cleaner consumption on the country’s largest CO2 emitter
USD 19.2 Billion 13.5 Million ~30% SOM
E-motorcycle market in Indonesia by Number of E-motorcycle in Indonesia by New motorcycle sales in 2030 are
2030 2030 electric

#3 Motorcycle Country 125.3 Million 5.2 Million

In the world. More motorcycle than Total motorcycle in Indonesia (2022) New motorcycle sales in 2022. A 43%
China (80.7 Million) & Thailand (21.8 increase from figure during pandemic
Million)

* Notes: assuming $1,300 avg. price of e-motorcycles

Source(s):Asosiasi Industri Sepeda Motor Indonesia

(AISI, 2022), Indonesia Statistics Bureau (BPS, 2022),
McKinsey

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Indonesia’s $19.2 billion electric motorcycle

opportunity - cleaner consumption on the
country’s largest CO2 emitter

High growth, driven 1 motorcycle for every 2 people

in Indonesia (2022)
by the middle class
85%
of Indonesian household owns at least 1
motorcycle (2022)

4.8% CAGR
2-wheelers market from 2016 - 2022.
The fastest growing 2 wheelers market in the
world
* Notes: assuming $1,300 avg. price of e-motorcycles

Source(s):Asosiasi Industri Sepeda Motor Indonesia

(AISI, 2022), Indonesia Statistics Bureau (BPS, 2022),
McKinsey

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Ambitious 13.5M e-motorcycle target

sees 13.2x increase in the last 2 years
E-motorcycle in numbers Number of EV in Indonesia
(2020-2022A & 2030 target)
4.7x Growth 25,782 E-motorcycles 524x target
increase
In numbers from 2021-2022 Total numbers in 2022

+264% CAGR 1,700+

2020 - 2022 Number of swapping station per Q2 2023

Catalyst needed for faster EV adoption

Energy Distribution Infrastructure Standardization of EV battery Government carbon tax & EV tax credits
plays an important role in EV adoption, as it that allows for increase in charging & swapping facilities Tax breaks will boost adoptions faster for price-
reduces consumer’s range anxiety. Most EVs as well as boosting manufacturing as producers don’t sensitive consumers to transition from conventional
today have lower driving/riding range compared need to worry about producing the batteries vehicles to electric.
to conventional vehicles.
67K 32K Source(s): Ministry of Transportation Indonesia(2022), Ministry
Target number of of Energy and Mineral Resources (2022)
Target number of
swapping station in charging station in
2030 2030 An
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The rise
rise of
of Indonesia’s
Indonesia’s e-motorcycle
e-motorcycle 9
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Barriers of adoption for consumers

Key problems
Considerations for purchasing electric motorcycles
Inadequate energy distribution Reliability & performance of the
infrastructure current products

Such as charging station availability, range
anxiety, and charging duration are hindering
consumers from shifting to e-motorcycles.
Expensive price of the EV
Motorcycles are the primary mode of
transportation and a source of income for low
to middle-income families. Performance factors
such as driving range, charging duration, and
speed result in hesitation towards trusting e-
motorcycles.

Approximately 45.13% of electric motorcycles

are sold with upfront battery cost (charging
model). Spiking the price for customers.

Source(s): Institute for Essential Service Reform

(Indonesia, 2022)
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Indonesia’s E2W ecosystem adoption by B2B users
A study by Pertamina NRE
Key Findings
Financial support is King
• High willingness among drivers to use E2W,
however conversion relies heavily on
financial support.
• Financial support should be given as a
supplement to operational savings and
further education on the benefits of EV.
Convenience is also crucial
• User acquisition and retention is difficult
unless the ecosystem can provide
sufficient travel distance to address range
anxiety.
• Even then, it takes time for users to adapt
from their ICE usage pattern to EV.
Ecosystem operation is not ready-state
• Prolonged peak hours of swapping occur
daily, straining the battery swapping
station’s (BSS) capability to provide
sufficiently-charged batteries.
• Calculation for number of BSS and batteries
required to support operation must consider
peak hours to avoid queues.
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Industry landscape
Players looking to electrify Indonesian motorcycle industry
Startup E-Motorcycles
The current e-motorcycle industry is
dominated by “startup” players who
raised equity and debt financing from
institutional investors such as venture
capitals, private equities, etc.,
especially as OEM players deploy a
“wait and see” approach to EV.

Notes: Companies like SWAP and Smoot are operated by OEM E-Motorcycles Energy Distribution - Battery Swapping
the same company under “SWAP Energi”, while Volta and
SGB (“Sistem Ganti Baterai” are operated by “Volta
Indonesia”)

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The Swapping vs Charging

Conundrum for electric motorcycles

Swapping model Charging model

+1,700 stations
In Indonesia
10 seconds lag time to
switch battery
Reduction of battery
replacement fee for having
swappable battery system
Spread across high-density area
Distribution
through retail partnerships
Battery swapping has
proven its compatibility
Availability Home charging
in the market. Of the
25,782 e-motorcycles on
3-4 hours (normal) and 1-2 hours
Time (fast charging) total charging the road, the battery
time
swapping model
Costs Incurred cost for frequently
having a fixed battery system accounts for 54.87%.
Distribution Residential area, home charging,
commercial building

Source(s): Asian Development Bank, 2022; PLN, 2022; Industry interview (May 2023) An electric revolution: The rise of Indonesia’s e-motorcycle 13
 An electric revolution: The rise of Indonesia’s E -motorcycle | Indonesia | 2023

Battery swapping landscape

Exponentially growing in e-motorcycle usage
Number of swapping stations by the There are currently 4 key players in battery
swapping in Indonesia. These 4 caters to
top 4 private players
different brands of e-motorcycles and typically
Based on interview (May 2023)
have either ride-hailing giants or 3PL behind
their adoptions
74.24%
1,300 1. SWAP 2. GOGORO 3. Battery swapping 4. Battery modification
1.000
E-motorcycle E-motorcycle operators
brands that use brands that use Swap operators used
750 Swap system are: Gogoro system is: by motorcycle brands
owned by themselves:

500

(Volta)
16.85%
Key users of Key user of Key users are:
250 295 Swap are: Gogoro is :
8.57%
0.34%
150
6
0

(Volta)
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Cost & time effectiveness is obtained from using

the swapping model
Battery swapping allows users to cut 75% Reduce opportunity cost & idle time USD 0.04*
cost on battery replacement when using the because riders can charge on-the-go cost per kilometer
-75%
conventional charging model for electric
motorcycles while saving 1 hour on a single 3,600x reduction
journey. faster charging time

Decrease vehicle maintenance cost Remove range anxiety

due to the longer life-cycle of swapping as there is a wide distribution network USD 0.01*
batteries of battery swapping stations cost per kilometer

2 Years life USD 467 - 1,000 Charging

1,700+
cycle one-off battery swapping stations model
added to battery replacement fee

* Notes on assumptions: Swapping

1. E-motorcycle life is 10 years
2. Average OTR price of e-motorcycle is USD 1,300
model
3. Range per cycle for charging model is 50km and
swapping model is 60km
4. A year of battery life is equal to 500 cycles
5. Average battery replacement cost is USD 671

Source(s): Asian Development Bank, 2022; Handbook of Energy & Economic

An electric revolution: The rise of Indonesia’s e-motorcycle 15
Statistics of Indonesia, 2022; Industry interview (May 2023)
An electric revolution: The rise of Indonesia’s E -motorcycle | Indonesia | 2023

Battery swapping
Zooming in on the new economy of energy distribution
E-motorcycle riders Swap location partners
Riders’ profile Station location
Middle-low income PARTNERING WITH RETAIL
USD 4,783.9
GDP per capita (2022) ▪ Modern-trade retail chain
High mobility
▪ Gas stations
30-120 Minutes Swapping stations Purchase
Battery
Of daily commute transactions
Depleted Revenue sharing model ▪ Malls
Motorcycle as main source
of income ▪ Others
Logistics driver, ride hailing
drivers
9 seconds – 2 minutes from start to finish
(depending on providers)

Time-saving for drivers Cost effectivity

Number of swap stations USD 0.03
Up to 4 hours
1,700+ saved per mile
Time saved
Swapping stations in Indonesia 50% cheaper
9 seconds
To SWAP Than petrol motorcycles

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Charge per kilometer vs. Charge per swapping

Breaking down the two business model of battery swapping
Charged per Kilometer USD 0.01 Current player(s) using this model
(IDR160) average cost per KM
• Users can swap battery anytime.
• Unlimited swapping quota USD 8.3 - 10
• Variable based pricing - similar to paying for (IDR125,000 - 150,000)
gasoline price est. Total cost in a month* *Assuming 700-800km avg. distance per month.

Monthly subscription and fixed fee USD 0.46 Current player(s) using this model

• Quota-based swapping (IDR7,000) cost per swapping

• Users swap when battery range is low USD 10 - 14

• Fixed fee per swap (IDR210,000) est. Total cost in a month**

(Volta)

**SGB pricing is IDR350,000 per 50 swaps per month while

Source(s): Case study from SWAP Energy, Sistem Ganti Oyika is IDR150,000 per month
Baterai (SGB - Volta), and Oyika pricing as of July 2023
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Opportunities & challenges for electric motorcycles
From an industrial standpoint
To meet the TKDN regulation,
Indonesia aims for 80% local
component manufacturing in two-
wheelers by 2026 and in four-
wheelers by 2030. The country has set
ambitious targets of 15.7 million
electric vehicles by 2030, requiring
nearly 800,000 tons of domestically
produced lithium batteries to meet
the demand.
Source(s): Cobalt Institute (2023), Deloitte, 2022;
Statista, 2022;
Opportunities
#1 nickel producer
The country generates 37% of the worldwide
nickel production - or around 1 million metric
tons per annum. Nickel is the key raw material
for EV batteries.
#2 cobalt producer in the world
The country is expected to produce 95,000
tons of cobalt by 2030, or 10x of its current
production.
Affordable electricity price
The cost of electricity is relatively cheaper than
most countries (US$ 0.091 / kwh). A clear
incentive for drivers to shift from non-
renewable options.
Challenges
Unstandardized battery types limit economics
of scale
Multiple players making different types of
batteries limit the cost reductions of EV
batteries.
Wait & see strategy from established players
Government regulations & market leaders are
yet to be defined, hindering established players
to invest further.
Fragmented Charging Landscape
Different types of batteries means different
types of charger & swapping requirements.
Making it expensive to build an ecosystem.
High manufacturing emission
The nickel processing industry relies heavily on
coal. Making it carbon intensive & counter-
productive from EV’s green goal.
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Government supports the e-motorcycle roadmap

Since 2019, the Indonesian government Subsidies to promote procurement

continually impose regulations to incentivize • Sales subsidies totaling to ~$455.8 Million
consumers, reduce manufacturing cost, and will be deployed in 2024
accelerate infrastructures for electric two- • Combustion conversion subsidies
wheelers to achieve its targets by 2030 amounting to $339/unit to cover the
conversion cost for electrical engines
31,000
Charging stations
Tax incentives to grow sales
• Adjusting Luxury Sales Tax (PPnBM) to be
based on emissions (PP No. 73/2019)
67,000 • Easing Value-Added-Tax (VAT) from 11% to
Swapping stations 1% (PMK No. 38/2023)

30% Standardization to enhance

Motorcycle sales composed by electric infrastructure
• Provision of regulatory guidelines:
13.5M Framework for EV production, on-the-road
E-motorcycles on the road usage (PerPres No. 55/2019; Permenhub
No. 45/2020; Permenperin No. 6-7/2022;
Permen ESDM No. 1/2023)

Source(s): Ministry of Finance, 2023; Ministry of

Transportation, 2020; Ministry of Industry, 2022; Ministry
of Energy & Mineral Resources, 2023; CNN Indonesia,
2020; An electric revolution: The rise of Indonesia’s e-motorcycle 19
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General overview of the regulations

• PR 55/2019 was created in 2019 as the roadmap to electronic motorized vehicles regulations in
Indonesia.
• Key-points of the PR are among others: Types of EV; EV industry; Domestic components; Import
Presidential Regulation (PR) requirements; EV incentives; EV infrastructure; Electricity tariffs; and EV technical requirements.
• Established to improve energy efficiency and sustainability as well as energy conservation to achieve
No. 55 of 2019
clean energy, clean air quality, and environmental sustainability.
• As its objectives to accelerates the battery-based EV program by:
• accelerating the development of the domestic battery-based EV Industry; providing incentives;
provision of electric charging infrastructure and regulation of electric power tariffs; compliance
with EV technical provisions; and protection of the environment.

• Permenhub 45/2020 is established for certain vehicles using electric motor drive.
Ministry of Transportation • The vehicles are electric scooter; electric bicycle; hoverboard; unicycle; and otopet.
No. 45 of 2020 • The specified certain vehicles must be driven on a special lane and/or a specific area designated for
the vehicles.
• Government includes small and specified vehicles in the EV industry projection and not limit the
regulations to the bigger vehicles only.

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• PMK 38/2023 aims to encourage and increase public interest in buying electric motorized vehicles by
Ministry of Finance Regulation covering value-added tax (VAT) on the delivery of electric motorized vehicles.
No. 38 of 2023 • Government will borne VAT for EV during fiscal year 2023 for tax period of April 2023 – December
2023.
• Government will borne 10% from 11% owed VAT hence the taxpayers will only borne 1% of the VAT.

• This regulation is created to revoked the Permen ESDM 13/2020 as it did not fulfill the needs of the
people.
• Permen ESDM 1/2023 aims to integrate electricity charging infrastructure providers for battery-based
Ministry of Energy and electric motorized vehicles and the application of electricity tariffs for battery-based electric
motorized vehicles.
Mineral Resources
• Electric charging infrastructure providers include:
Regulation No. 1 of 2023 • Private and public recharging facilities, consisting of: Electric power supply equipment; Current,
voltage, and communication control systems; and Protection and security systems.
• Battery exchange facilities.
• This regulation creates ease of usage to provide more charging stations and several schemes for
business actors to play a part.

• Permenperin 6/2023 act as a continuation of PR 55/2019.

Ministry of Industry • Aims to increase the purchasing power and affordability of two-wheeled battery-based electric
motorized vehicles by providing government assistance.
Regulation No. 6 of 2023
• Government offers subsidized purchase of IDR7,000,000 (seven million Rupiahs) for a single unit
purchase of EV motorcycle towards people that fulfill the qualifications according to the regulation.
• The program will commence during the fiscal year period of 2023 – 2024.

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Opportunities
From legal standpoint
• With rapid updates of the relevant
regulations and policies, the government is
aiming to provide clearer and more cut-out
guidelines for the EV industry in Indonesia.

• The Government also pay attention to a

smaller type of the EV, under which vehicles
that drive under 25 km/h such as scooter,
bicycle is regulated. This shows the
government’s effort to adjust with the
current trend and creates a safety rule for
the users, with a goal to reduce emission in
Indonesia.

• The government also aims to provide

incentives, subsidies, road access and
infrastructures as well as support to
accelerate the EV program in Indonesia by
establishing relevant sectoral regulations.

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Sustainability of EV-battery
Future opportunities
In terms of sustainability, swap battery is
expected to have longer service life, lesser
cost, and better security and waste
management compared to charging battery.
Source(s): Kompas.com, 2022; Forbes, 2022;
CUSTOMCELLS, 2023
#1 Longer battery service life
The service life of swap battery is longer than
charging battery, as swapped battery is always
charged under ideal conditions in the swapping
station (i.e., no quick charging, stable electrical
surge).
#2 Centralized battery waste
management
Swap battery can drive a centralized battery
waste management ecosystem, since unusable
batteries will be handed to the station and
collected by the operator, preventing individual
waste dumping.
#3 Battery waste recycle
With the BaaS (Battery-as-a-Service) model
that is using cloud and digital twin technology,
it is possible to manage the reuse of the
batteries, which will conserve resources and is
an important contribution for the sustainable
environment.
#4 Reducing manufacturing resources
and cost
Battery swapping services may enable EV
companies to sell EVs without built-in battery
packs (like in China), saving manufacturing
resources and cost. Consumers will then have
to rely on renting swap batteries.
#5 Tracking and monitoring
Companies can track and locate the battery’s
location thanks to their built-in GPS. Swap
battery (attached to the e-motorcycle) may
increase the security of e-motorcycles from
acts of theft.
#6 Green energy
Swapping operators can leverage green energy
(i.e., solar power) to partially or fully power
their Battery Swapping Stations (BSS).
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