JAKARTA — Competition in Indonesia’s electric vehicle market is intensifying as Vietnamese automotive manufacturer VinFast and China’s BYD enter Southeast Asia’s largest economy with passenger car debuts.
Indonesia is becoming an increasingly important market for many EV makers as the country touts its position as the world’s biggest producer of nickel, a key component in EV batteries. With more than 270 million inhabitants, the world’s fourth most populous nation is beckoning the global auto industry with its huge two- and four-wheel-vehicle market.