Reducing Dependency on Coal, Indika Energy Owned By Conglomerate Agus Lasmono Sudwikatmono Enters Electric Vehicle Business

JAKARTA - PT Indika Energy Tbk. (Indika Energy) is said to be cooperating in developing a sustainable new energy ecosystem in Indonesia through investment in the electric vehicle industry. This was realized through a Memorandum of Understanding (MoU) with Taiwanese companies Foxconn and Gogoro Inc.

Indika Energy Deputy President Director Azis Armand said this collaboration is in line with the company's efforts to diversify its business, including in the electric vehicle and battery industry.

"This business is very promising because it combines our experience and expertise in the energy sector with Foxconn and Gogoro as global companies that have developed electric vehicles," he said in an official statement, Friday, January 21.

According to Azis, Indika Energy's move to enter the electric motorcycle ecosystem is an effort to achieve the company's target to increase the share of revenue from the non-coal sector by 50 percent by 2025.

"In April 2021, we established PT Electra Mobilitas Indonesia (EMI) which aims to accelerate the electric motorcycle market and its ecosystem so that it can become one of the main brands in the national electric vehicle industry," he said.

Azis hopes that the company's strategic steps can help Indonesia as one of the developing countries for the electric vehicle ecosystem.

For information, this collaboration is carried out through the Build – Operate – Localize (BOL) scheme in Indonesia through three stages, namely building, operating, and localizing, with the aim of increasing national industrial capacity.

It was revealed that this synergy would explore broad investment cooperation for the electric vehicle (EV) ecosystem, starting from the manufacture of electric batteries (including battery cells, battery modules, and batteries), to the development of the 4-wheel EV, EV 2, and electric bus industries ( E-Bus).

"We want Indonesia to be included in the global supply chain and have strong competitiveness in this industry," concluded Azis.