HSBC is actively supporting Indonesia's growth in the electric vehicle (EV) sector. As one of the economic powerhouses in Southeast Asia, Indonesia has a GDP of over US$1 trillion and holds a unique position with the greatest nickel and the third-largest cobalt reserves. These resources are crucial for EV battery production. Additionally, Indonesia boasts a growing domestic consumer base, making it an attractive site for foreign investment in the EV industry.

HSBC recognizes Indonesia's potential and is committed to supporting companies interested in tapping into this sector. At the 2024 HSBC Investment Forum, themed "Electrifying Indonesia: Unleashing the Potential of Electric Vehicles Ecosystem," HSBC emphasized the abundant investment opportunities available in the entire EV supply chain. The forum brought together industry experts, policymakers, companies, and investors to foster collaboration and discuss ways to unlock Indonesia's full potential as a leading and sustainable player in the EV industry.

Indonesia's ambitious goal is to produce 2.2 million electric cars and 13 million electric bicycles by 2030, as part of its path toward achieving net-zero emissions by 2060. With its strong automotive market, global interest in EVs, and favorable investment climate, Indonesia is well-positioned for growth. HSBC, as the leading international bank in ASEAN, is keen to support both local and foreign corporates investing in this sector.