“PT Blue Bird aims for EV to account for 3% of its fleet by next year and to gradually increase the number to 20% by 2030,” Noni Purnomo, president commissioner at Bluebird Group Holding, said in a Bloomberg Television interview on Wednesday.

“We are very happy that BYD is now investing in Indonesia,” said Purnomo, who previously headed the taxi company.

“We hope very soon the price of EV will be reduced significantly,” Purnomo added.

Blue Bird operated its first electric taxis in 2019.

It had nearly 23,000 vehicles at the end of 2023, with EVs accounting for around 1%, according to its latest annual report.

The high price of EVs has hindered its efforts to expand its electric fleet.

“We have been lagging in our implementation of EV,” said Purnomo.

“At this moment the price for us is about three-and-a-half times of the combustion engine,” Purnomo added.

Blue Bird earlier said it will turn to BYD, the world’s largest maker of EVs, for the majority of its EV fleet on lower costs.

The Chinese company will start commercial production at its factory in the country in early 2026, the Indonesian government said in March.

The plant is part of a US$1.3 billion investment.