Automotive - Geely EX2 EV car announced, starting at IDR229.9mn

Automotive - Geely EX2 EV car announced, starting at IDR229.9mn Geely Auto Indonesia announced the price of the Geely EX2 electric car for the Indonesian market, starting at IDR 229.9 million. This launch marks Geely's commitment to its global EV sales strategy and strengthens its position in Southeast Asia. The Geely EX2 Pro has a 40.8 kWh battery, a range of up to 395 km, and a local content (TKDN) of 46.5 per cent. The special price is valid for SPK until February 15, 2026, or for the first 2,000 orders. (Source: katadata). Comment: Amid the potential landscape competition changes due to several new policies, we believe EV market will remain contributes significantly to overall 4W market. The announcement of the Geely EX2 starting at IDR 229.9 million is a price disruptor, in our view. Yet, post promo (limits to only the first 2.000 units) will determine whether Gelly remain as the segment leader (City/Compact 4W EV). Additionally, range anxiety, well developed charging infrastructure, TKDN, after sales services and used / second hand price are remains as several key success factor. Maintain Neutral for automotive sector.