CEO Morning Brief

BYD Outbids Tesla to Power Indonesian Taxis

Publish date: Wed, 31 May 2023, 08:50 AM
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TheEdge CEO Morning Brief

JAKARTA (May 30): Indonesia’s largest taxi operator will turn to BYD Co for 80% of its electric-vehicle (EV) fleet while reviewing its Tesla Inc orders as lower-cost models win out in the country.

Most of the 500 EVs to be delivered to PT Blue Bird this year will be filled by BYD, especially the E6 and T3 models, as the vehicles are a better fit for the Indonesian market, said president director Sigit Priawan Djokosoetono in an interview.

“If the price is too expensive, it would be unreasonable for us to then charge it to customers, so we need to consider this,” he said. “We use a lot of imported BYD models as the price is supportive for us to operate in Indonesia.”

BYD, the world’s second-largest EV producer, is gaining ground in Southeast Asia’s largest economy. It recently signed a deal to explore potential investments in Indonesia, while also considering building EV plants in the neighbouring Philippines or Vietnam.

Meanwhile, Tesla has had to cut prices to stoke demand in Asia, even after earlier markdowns took a toll on profitability. Blue Bird is still reviewing its orders for Tesla based on the return on investment.

Source: TheEdge - 31 May 2023

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