Prabowo launches national electric motorcycle, banks ready to support

President Prabowo Subianto has officially launched the National Electric Motorcycle (Molinas) in Bekasi, West Java, underscoring the nation's drive for economic self-sufficiency. The initiative aims to bolster Indonesia's independence in its economic endeavors.

Rosan Roeslani, CEO of Danantara Indonesia, expressed the company's strong commitment to the development of Molinas and its supporting ecosystem. He highlighted that Indonesia possesses the necessary resources for national self-reliance in this sector, emphasizing the use of nickel-based batteries. "If we look at the recipe, we have everything for the national electric motorcycle, especially the battery for the national electric [vehicle], we will fully push for the use of nickel-based," Rosan stated.

Roeslani pointed out that Indonesia holds 46 percent of the world's nickel reserves and possesses the technology to develop Molinas. He believes the initiative can lead to affordable, high-quality electric motorcycles by leveraging nickel downstream processing into cell batteries and battery packs. This integration is crucial for future Molinas production.

Despite a large existing market of 140 million motorcycles in Indonesia, electric motorcycle sales currently represent only one percent, or about 60,000 to 70,000 units annually. Roeslani sees a significant market potential of $170 billion USD for electric motorcycles. He noted that over 10 national companies already meet the required local content level (TKDN) set by the Ministry of Industry.

To accelerate adoption, Danantara Indonesia, in collaboration with financial institutions and banks under its umbrella, is prepared to offer financial support. This includes lower interest rates and extended loan periods. Roeslani mentioned plans to reduce or eliminate the current 10 percent down payment requirement to encourage wider public interest and faster purchasing of electric motorcycles.