Adira Finance Targets Electric Vehicle Financing to Double by 2024

February 23, 2024, 12.10 PM | Reporter: Ferry Saputra

ILUSTRASI. Employees check the completeness of an electric motorbike at the Pondok Aren dealer, South Tangerang, on Monday (4/12/2023). Adira Finance's electric vehicle financing for the nine months of 2023 has reached IDR 123 billion. Where one-third is an electric motorbike around IDR 40 billion and two-thirds is an electric car around IDR 80 billion. Photo: KONTAN/Carolus Agus Waluyo (04/12/2023).

CORPORATE STRATEGIC - JAKARTA. PT Adira Dinamika Multi Finance Tbk (Adira Finance) is targeting to double its electric vehicle financing this year compared to its achievement in 2023.

"The company's electric vehicle financing reached IDR 189 billion throughout 2023," Adira Finance Portfolio Director Harry Latif told Kontan.co.id, Tuesday (20/2).

Harry explained that in January 2024, Adira Finance's electric vehicle financing significantly increased to IDR 25 billion. However, he said the portion of electric vehicle financing in the company is still relatively small.

To achieve the target of doubling, Harry stated the company will implement several strategies.

One of them is by providing promotional programs to consumers to attract demand for electric vehicles.

In addition, Adira Finance will penetrate and establish cooperation with new electric vehicle brands to dealers. Harry also projected that electric vehicle financing this year will continue to grow. This is in line with the increasing enthusiasm of public demand.

Although electric financing is expected to continue to grow, Harry does not deny that several things need to be watched out for, which pose challenges for the company.

One of them is the price of electric vehicles which is still relatively quite expensive compared to non-electric vehicles. Therefore, the distribution of electric vehicle segment financing is still quite small in the multifinance industry.

"In addition, the limited infrastructure to support electric vehicles, such as the lack of electric vehicle charging stations in Indonesia, requires better adaptation and product knowledge. Plus, the resale value of electric vehicles is still uncertain considering the market is still relatively new and small," said Harry.