KONTAN.CO.ID - JAKARTA. PT BRI Multifinance Indonesia (BRI Finance) stated that the potential increase in fuel prices could encourage people to switch to electric vehicles.

BRI Finance Corporate Secretary Aditia Fakhri Ramadhani stated that this is because electric vehicles offer more efficient operating costs than fuel-powered vehicles.

"However, consumer decisions are still influenced by various factors, such as vehicle price, infrastructure availability, and government policies," Ramadhani told Kontan recently.

Previously, the Financial Services Authority (OJK) also expressed a similar view, stating that rising fuel prices have the potential to shift public preference toward electric vehicles.

OJK data shows that financing for four-wheeled electric cars by the multifinance industry reached IDR 20.06 trillion as of May 2026, representing a 29.16% year-on-year growth. This value is equivalent to 3.69% of total multifinance financing, with hybrid vehicles still dominating at IDR 11.74 trillion.

BRI Finance claims that electric vehicle financing disbursement as of June 2026 has increased approximately 35.6-fold year-on-year compared to June 2025. However, its contribution to the company's total portfolio remains minimal as the business is still dominated by conventional vehicles.

However, the company stated that the outlook for electric vehicle financing until the end of 2026 remains positive, although the growth rate depends on the timing of the implementation of supporting policies, including government incentives.

To maintain growth, BRI Finance strives to prioritize prudent principles by focusing on financing quality and strengthening business synergies with BRI and its dealer network.

"Developing competitive financing products and services in line with market needs, for both conventional and electric vehicles," he said.