Jakarta. Chinese electric vehicle giant, BYD, is set to unveil its inaugural model for the Indonesian market on Thursday, Jan. 18, 2024. 

"In January 2024, BYD will debut to enliven the passenger vehicle market in Indonesia, simultaneously solidifying Indonesia's place on BYD's global business expansion map," BYD said in an invitation received by Beritasatu.com, a sister publication of the Jakarta Globe, on Wednesday.

Before tapping into the Indonesian market, BYD conducted comprehensive studies on Indonesia's automotive market. Testing was carried out using the TransJakarta bus fleet and Blue Bird taxis, enabling BYD to encounter diverse road conditions, weather variations, load considerations, and distinct driving styles of the drivers.

Currently, BYD offers a range of electric vehicle models across various segments, such as Atto 3, Dolphin, and Seal, which have already been sold in Thailand with prices ranging from Rp 400 million ($25.700) to Rp 700 million.

The penetration of battery electric vehicles (BEVs) in Indonesia remains low, accounting for only 1 percent of the total market, which is below the global average of 14 percent and the ASEAN average of 2 percent.

According to the Association of Indonesian Automotive Industries (Gaikindo), during the period from January to August 2023, the Hyundai Ioniq 5 Signature Extended emerged as the top-selling battery electric car model in Indonesia, with approximately 3,800 units sold. Following closely, the Wuling Air EV Long Range recorded sales of over 2,100 units during the same period.

Globally, BYD has successfully outperformed Tesla. Tesla's total vehicle deliveries throughout 2023 reached 1.8 million units, whereas BYD's total deliveries amounted to 3.02 million units, including 1.4 million plug-in hybrid electric vehicles.

Last year, BYD expressed interest in investing in Indonesia. President Joko "Jokowi" Widodo visited the company's factory in Chengdu, China in July, aiming to lure investment from the automotive giant. The government has prepared various incentives for EV investments in Indonesia to attract global manufacturers to set up assembly plants here.