INSIGHT: SOUTHEAST ASIA - Indonesia leads ASEAN’s push to develop electric

MAY 17, 2023 INSIGHT: SOUTHEAST ASIA Indonesia leads ASEAN’s push to develop electric vehicle hub THE TAKEAWAY EV adoption and the improvement of the EV industry in ASEAN member states, reinforcing the region’s Indonesia, chair of the Association of Southeast reputation as a global EV manufacturing hub. [...] Asian Nations (ASEAN) for 2023, delivered the first-ever ASEAN leaders’ declaration on developing Leaders encouraged the harmonization of a regional electric vehicle (EV) ecosystem during regional standards for the EV ecosystem to ensure the 42nd ASEAN Summit held May 9–11 in Labuan interoperability and facilitate cross-border trade and Bajo, Indonesia. [...] improve the participation of micro, small, and medium enterprises; and collaborate on research and IN BRIEF development to strengthen the regional supply chain. [...] Indonesia hosted the 42nd ASEAN Summit under the IMPLICATIONS theme, “ASEAN Matters: Epicentrum of Growth.” The theme underscores strengthening ASEAN’s ASEAN’s big push to become a global EV hub is timely capability as the global centre of economic growth for Indonesia as the country is at the forefront of and its integral role in maintaining peace and stability EV development in the region. [...] big challenges that Indonesia must overcome to seize The declaration emphasized the importance of the EV opportunity: first is its heavy dependence harnessing member states’ comparative advantages in on coal and gas for electricity generation and various stages of the EV supply chain.