Through Indika Energy, Conglomerate Agus Lasmono Sudwikatmono Launches The Electric Vehicle Business By Establishing A New Company

JAKARTA - Slowly, the electric vehicle industry is starting to attract the interest of many companies. One of them is PT Indika Energy Tbk (INDY) owned by conglomerate Agus Lasmono Sudwikatmono.

Citing information from Indika's Corporate Secretary Adi Pramono, the company has taken two steps to enter the electric vehicle industry. First, on April 27, the company's subsidiary, PT Solusi Mobilitas Indonesia (SMI), which was only established on March 25, and PT Ilectra Motor Group (IMG) formed a new company called PT Electra Distribution Indonesia (EDI).

"EDI is a distributor company for Indika's business activities in developing and expanding the electric vehicle business, especially two-wheelers in Indonesia," Adi said in an information disclosure quoted Wednesday, May 11.

Indika's second step involved SMI and EDI by forming a new company PT Electra Auto Indonesia (EAI). EAI will become a two-wheeled electric vehicle dealership.

Previously, SMI was here to develop a two-wheeled motorcycle business. "Both wholesalers of motorcycles and spare parts, to accessories, including management consulting services," Adi wrote.

To establish SMI, Indika Energi deposited Rp49.99 billion of capital while IEI's was Rp1 million. So that the total capital of SMI reaches IDR 50 billion.

Indika has also signed agreements with Taiwanese companies Foxconn and Gogoro Inc in its efforts to diversify its business into electric vehicles and batteries.

Deputy President Director of Indika Energy Azis Armand said, 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.