Jakarta. Wuling Motors has achieved a 47.5% Domestic Component Level (TKDN) for its latest electric vehicle, the BinguoEV, making it eligible for value-added tax (VAT) incentives.

The BinguoEV underwent verification carried out by PT Surveyor Indonesia, the agency responsible for implementing verification processes. The BinguoEV is locally produced at Wuling's factory in Cikarang, West Java. 

Dian Asmahani, Sales and Marketing Director at Wuling Motors, said on Monday that this achievement reasserts Wuling's dedication to bolstering the national automotive industry.

Having attained the domestic component level exceeding 40 percent, the BinguoEV is now entitled to a 10 percentage points reduction in VAT under the government's electric vehicle incentive initiative. Buyers of this subsidized electric vehicle will only incur a 1 percent VAT charge, instead of 11 percent, leading to a reduced overall cost.

The BinguoEV long-range model, boasting a claimed range of 333 km and initially valued at Rp 358 million ($23,000), is now projected to be available at approximately Rp 326 million. Simultaneously, the premium range version, featuring a claimed range of 410 km, is projected to decrease from its former price tag of Rp 401 million to Rp 372 million.

Wuling also offers BinguoEV owners with Lifetime Core EV Component Warranty, which covers the power battery, drive motor, and motor control unit.