Generic Hero BannerGeneric Hero Banner
Latest Market News

Indonesia plans 15mn electric vehicles on roads by 2030

  • Spanish Market: Battery materials, Emissions, Metals
  • 24/05/24

The Indonesian government aims to have 2mn four-wheeled electric vehicles (EVs) and 13mn two-wheeled EVs on its roads by 2030, to cut emissions and save energy.

This will bring about energy savings of 29.79mn bl of oil equivalent (boe) and cut exhaust emissions by 7.23mn t of CO2 in 2030, according to special staff to the minister of energy and mineral resources (ESDM) Agus Tjahjana.

Indonesia's transport sector makes up around a third of the country's energy consumption and the 11mn cars on Indonesian roads produce more than 35mn t/yr of CO2, while trucks emit more than 50mn t/yr, according to ESDM secretary general Dadan Kusdiana.

The country's vehicle fleet is likely to grow in coming years because of its economic development, so decarbonising the transport sector is critical to achieving net zero emissions by 2060, said the ESDM. Greater electrification of transport will also allow Indonesia to reduce its fossil fuel imports.

Indonesia is keen to develop the EV battery supply chain from upstream to downstream, in view of its large nickel resources that can support the development of the industry, said Agus. Indonesia currently has nine facilities processing nickel ore into nickel and cobalt sulphate, which is one of the materials used in making EV batteries. Out of these, four are already operational while three are in the construction stage, and the remaining two are still undergoing feasibility studies.

The next step is to promote the manufacture of battery precursors, cathodes, battery cells and batteries, considering that the electric charging and battery recycling industries already exist, said Agus.

But there is still a large price gap between EVs and conventional vehicles, said Dadan. The Indonesian government is hence providing tax incentives and subsidies for electric cars, hybrid cars and electric motorbikes to cover this gap.

"Indonesia has prepared $455mn to subsidise the sale of electric motorbikes," said Dadan, adding that the subsidy covers the sale of 800,000 new electric motorbikes and the conversion of 200,000 combustion engine motorbikes.

The government estimates that 32,000 charging stations will be needed to meet demand by 2030. The total number of charging stations available was 1,566 as of April, said Agus, adding that the government aims to add up to 48,118 charging stations by 2030.

The ESDM has just approved 204 nickel mining work plans for exploration and production. The country produced 175.6mn t of nickel ore output in 2023.


Related news posts

Argus illuminates the markets by putting a lens on the areas that matter most to you. The market news and commentary we publish reveals vital insights that enable you to make stronger, well-informed decisions. Explore a selection of news stories related to this one.

15/02/25

Peru backs Saudi critical minerals hub plan

Peru backs Saudi critical minerals hub plan

Munich, 15 February (Argus) — Peru's foreign minister Elmer Schialer today said he supports US policy backing Saudi Arabia's efforts to become a global critical minerals powerhouse, a strategy that aims to counterbalance China's dominance and bring down costs. Speaking at the Munich Security Conference, Schialer called the US approach "a good strategy". Schialer was responding to a question on whether the US' backing of Saudi Arabia's efforts to become a critical minerals refining and processing hub was a good idea. "I think we ought to give it a try, because when we have two, three or four main centers of refinement and the finalizing the product, the cost will also eventually go down, which is also very important, economically speaking," Schialer said. Led by the US, western countries are keen to loosen China's stranglehold on access to critical minerals. China controls about 90pc of the world's capacity for processing the minerals and has steadily tightened restrictions on exporting the materials and technology needed to process them. Beijing imposed new restrictions on exports to the US in late January in response to President Donald Trump's tariffs on imports to the US from China. Saudi Arabia in recent years has made strides in positioning itself on the global critical minerals map. As part of its economic diversification plan Vision 2030, the kingdom aims to strengthen local processing and industrial value added, while building supply chains that are more resilient to global disruptions. Saudi Arabia also has reiterated its commitment to developing its substantial reserves of copper, gold, rare earths, potash, and bauxite, while also expanding domestic electric vehicle manufacturing. Riyadh in January unveiled plans to develop a new mineral investment project valued at $100bn, $20bn of which was already in the final engineering phase or under construction. The kingdom's Ministry of Industry and Mineral Resources increased its estimate of the value of its unexploited mineral resources from $1.3 trillion to $2.5 trillion in early 2024, boosted by new discoveries. State-controlled Aramco has also created a joint venture with Saudi state mining company Ma'aden to explore and produce energy transition minerals. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

EU may trigger clause to boost defense spending


15/02/25
15/02/25

EU may trigger clause to boost defense spending

Munich, 15 February (Argus) — European Commission president Ursula von der Leyen wants to trigger an emergency clause that would allow member EU countries to significantly increase their spending on defense. She also warned that "unjust" tariffs on the EU will not go unanswered. Speaking at the Munich Security Conference on Friday, Von der Leyen said she "will propose to activate the escape clause for defense investments". Such a move would "allow member states to substantially increase their defense expenditure", she said. Von der Leyen's proposal would exempt defense from EU limits on government spending. Highly indebted EU members such as Italy and Greece have voiced support for the move, arguing that activating the escape clause would enable them to increase defense spending while avoiding other budget cuts. Fiscally conservative EU countries, including Germany, could push back against the idea. Von der Leyen's proposal comes at a sensitive time for the EU, with US president Donald Trump pressuring Europe to finance more of its own defense. Trump wants EU members of Nato to more than double military expenditure to protect themselves from potential aggression rather than leaning on Washington's support. Trump is also pushing to end the conflict between Russia and Ukraine. "Let there be no room for any doubt. I believe when it comes to European security, Europe has to do more. Europe must bring more to the table," Von der Leyen said, adding that the EU needs to increase its military spending from just below 2pc of GDP to above 3pc. The increase "will mean hundreds of billions of euros of more investment every year", she said. Tariffs will be answered Von der Leyen also reemphasized the EU's position on the recent US tariff decision, noting that tariffs act like a tax and drive inflation. "But as I've already made clear, unjustified tariffs on the European Union will not go unanswered," she said. "And let me speak plainly, we are one of the world's largest markets. We will use our tools to safeguard our economic security and interests, and we will protect our workers, our businesses and consumers at every turn," she added. Trump on 11 February imposed a 25pc tariff on all US imports of steel and aluminum effective on 12 March, although he said he would consider making an exemption for imports from Australia. US 25pc tariffs on steel and aluminum imports could result in a 3.7mn t/yr decrease in European steel exports, as the US is the second-largest export market for the bloc, European steel association Eurofer said. By Bachar Halabi Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Aperam’s stainless steel deliveries fall on year in 4Q


14/02/25
14/02/25

Aperam’s stainless steel deliveries fall on year in 4Q

London, 14 February (Argus) — Luxembourg-based global stainless steel producer Aperam's stainless and electrical steel shipments fell on the year in the fourth quarter owing to a sharp contraction in demand. But its deliveries recovered on a quarter-on-quarter basis as the European market did marginally better, while Brazil recorded better than expected demand. Aperam's stainless and electrical steel shipments fell by 1.5pc year on year to 401,000t in October-December. Fourth-quarter shipments rose by 2.56pc relative to the third quarter, with full-year 2024 sales registering a 4.9pc rise to 1.626mn t. Higher 2024 shipments can be attributed to the low base of 2023 driven by downstream distributor destocking. Aperam's stainless and electrical steel segment's adjusted earnings before interest, tax, depreciation and amortisation (ebitda) rose to €42mn in the fourth quarter, up from a loss of €34mn over the same period in 2023. Revenues for full-year 2024 nearly doubled to €175mn, up from €92mn in 2023. Shipments in the group's services and solutions segment rose by 9pc on the year in the fourth quarter to 169,000t, with deliveries of alloys and specialties flat on the year at 10,000t. Scrap metal shipments in Aperam's recycling and renewables segment — including scrap processor ELG and the group's Brazilian entity Aperam BioEnergia — fell by 7.4pc on the year to 312,000t, but full-year volumes rose by 6.63pc to 1.464mn t. Aperam's overall adjusted ebitda in 2024's fourth quarter more than doubled on the year to €116mn, attributed to a record-high performance of its alloys segment with together with strong results at its Recycling & Renewables division. Aperam expects ebitda in the first quarter of 2025 to be at a lower level relative to 2024's fourth quarter. The group is also expecting significantly higher net financial debt in the first quarter owing to the consolidation of Universal Stainless & Alloy Products completed in recent weeks. By Raghav Jain Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

ReElement begins RE shipments, eyes Africa plant


13/02/25
13/02/25

ReElement begins RE shipments, eyes Africa plant

Houston, 13 February (Argus) — Critical minerals refiner ReElement Technologies began commercial shipments of magnet-grade rare earth (RE) elements, as it looks to scale operations by expanding an Indiana facility and deepening its presence in Africa. The Indiana-based company manufactured heavy and light RE oxides primarily from recycled feedstock sourced primarily from end-of-life permanent magnets used in wind turbines and electric vehicles at its 700m2 facility in Noblesville, ReElement commercial marketing officer David Sauve told Argus on Wednesday. ReElement did not disclose how much product has been sent to customers since shipments began last week, only noting that Noblesville, Indiana, has daily output capacities of 5-10kg for RE oxides and 15-25kg of battery-grade lithium carbonate. The company is transitioning operations to its 50,000m2 refinery in Marion, Indiana, which will be able to turn out 2,000 metric tonnes (t)/yr of RE oxides and 5,000t/yr of battery-grade lithium in either carbonate or hydroxide form when first-phase production begins by year-end, Sauve said. Marion will have the capability to process feedstock from ores, in addition to recycled sources. ReElement also entered into a partnership with South Africa-based Novare Holdings to invest $100mn in building out refining capacity of critical minerals in Africa. The companies currently are working to pick a location for their first facility, expecting to start developing the site in 2025's second half. Under the agreement, ReElement will provide its chromatography-based separation and purification technology, along with project management expertise, while Novare will supply funding and operational oversight. Capacity figures for the African plant have yet to be determined, Sauve said. Feedstock will come from local and regional sources. Joining the antimony rush ReElement plans to add antimony products to its suite of offerings, looking to capitalize on a high-margin opportunity and help fill a void after China banned shipments of the metal to the US. Prices for 99.65pc antimony metal have surged by more than 150pc since late August, when China first implemented export restrictions that effectively cut off supply from the world's largest source, according to Argus data. The company in late January expanded its relationship with a South Africa supplier from whom ReElement will source antimony-bearing ore to refine into antimony sulfide and antimony oxide. It already has processed ore samples into sulfide at Noblesville and expects to add commercial-scale production capacity at Marion. Sauve added that ReElement's modular technology could be co-located with "downstream manufacturers of antimony-containing military applications," as well. The company plans to take 1,000t/month of ore initially, saying that total could grow based on market needs. By Alex Nicoll Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Upper Mississippi River ice tops 5-year average


13/02/25
13/02/25

Upper Mississippi River ice tops 5-year average

Houston, 13 February (Argus) — Ice measurements taken Wednesday to gauge when barges can transit the upper Mississippi River exceeded the five-year average, according to the US Army Corps of Engineers (Corps). The annual Lake Pepin ice reports — taken by the Corps in February and March at Lake Pepin south of Minneapolis — are a bellwether for when barge transit can resume on the upper Mississippi River. This year's first report found ice at the lake was 19in thick on 12 February, 8in thicker than last year's measurement and 3in above the five-year average. The Corps' initial report last year found only 11in of ice at the lake, thin enough for waterborne traffic to break through. Subsequent reports were cancelled after the Corps said it would be too hazardous for crews and equipment to take additional measurements. Locks along the upper Mississippi River are anticipated to remain closed through 3 March, the Rock Island Corps district in Illinois said on 5 February. By Meghan Yoyotte Send comments and request more information at feedback@argusmedia.com Copyright © 2025. Argus Media group . All rights reserved.

Generic Hero Banner

Business intelligence reports

Get concise, trustworthy and unbiased analysis of the latest trends and developments in oil and energy markets. These reports are specially created for decision makers who don’t have time to track markets day-by-day, minute-by-minute.

Learn more