Malaysia, for instance, began providing the same incentive to the industry earlier. The national car wholesales plunged by more than 51 percent year-on-year , to just around 532,000 units in 2020 and were far lower than the average sales of 1 million units sold in the last four years due to the pandemic. Car sales have been one of the key indicators of Indonesians’ purchasing power.
- Whichever route Proton takes, we can safety assume these cars won’t simply be rebadged versions of existing Geely models and will have considerably greater local input.
- Volvo has changed the names of some of its fully electric models in an effort to streamline and standardise its line-up.
- While the LST incentive has ended as of Dec. 31, 2021, there is still a strong expectation from automakers to extend the incentive timeline to continue the sales rebound.
- JSW plans to build EVs, battery plant in OdishaJSW Group has signed an MoU with Odisha government; Rs 40,000 crore investment planned.
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