PT Bank Central Asia (BCA) projects an increase in electric vehicle credit of up to 10 percent this year, with its credit financing subsidiary BCA Finance releasing total credit of Rp40 trillion (US$2.4 billion).
Director of BCA Finance, Petrus S. Karim, said the trend of electric vehicles, both cars and motorbikes, is showing an increase even though there are still various considerations for consumers.
"We see an increasing trend for this year regarding electric vehicle credit. It is estimated that there will be a 10 percent increase in the value of the credit we release," Petrus spoke at the BCA Expoversary event at ICE BSD, Tangerang, on Thursday, February 20, 2025.
He added that innovations and breakthroughs made by electric vehicle companies have also driven credit growth in this sector. In addition, stable national economic growth has also contributed to the increase in electric vehicle financing.
Meanwhile, ahead of Idul Fitri, Petrus said that many people are still waiting for the launch of new vehicles before applying for credit. Usually, the vehicle purchasing trend at this moment is dominated by large-capacity family cars for long trips.
"Car credit during Idul Fitri is more targeted at the family segment. For electric vehicles, there are still limitations, especially related to the availability of charging stations in the area," he said.
Another BCA Finance Director, Herwandi Kuswanto, revealed that two-wheeled vehicle credit is also still dominated by large-capacity motorbikes that can travel long distances.
"Electric motorbikes are not too many yet. But with innovations such as smaller batteries and longer range, public interest is expected to increase," Herwandi said.
BCA Finance projects that the growth of electric vehicle credit will continue to increase, especially with the increasing development of technology and supporting infrastructure in Indonesia.
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