Will Right Issue IDR 336 Billion, SLIS Boosts Electric Motor Sales

JAKARTA - PT Gaya Abadi Perfect Tbk (SLIS) will increase capital through a right issue with a target of obtaining Rp336 billion in funds.

This corporate action of electric vehicle manufacturers is an effort to boost sales of electric vehicles.

SLIS President Director Edi Hanafiah Kwanto said the proceeds from the rights issue of Rp336 billion will later be used as capital for PT Champion Bike, to develop the electric vehicle segment.

"The high demands of the community make the company continue to strive to meet these needs quickly and maintain the quality or quality of goods," said Edi as stated in an official statement in Jakarta, Tuesday.

Edi said the company targets to produce 20,000 electric motorcycles per month or the equivalent of 120,000 units per year.

In the period January to May 2023, he revealed, the company managed to record sales of 10,669 electric bicycles, and 638 electric motorcycles (e-Motor bikes).

In terms of production, currently the factory in Cikupa District, Tangerang Regency with an area of 3.8 hectares is capable of producing 1,000 units per day or an increase of 100 percent year on year (yoy) compared to 2022 which is 500 units per day.

"The significant growth of the Selis factory is supported by adequate production lines with advanced technology," said Edi.

Edi said the success of selling electric motors in Indonesia could not be separated from the implementation of Presidential Regulation (Perpres) Number 55 of 2019 concerning the Battery-Based Electric Motor Vehicle Program for Road Transportation.

He said the regulation provided incentives, such as the imposition of Motor Vehicle Tax (PKB) and Motor Vehicle Name Transfer Fee (BBNKB), with a value of zero percent for battery-based electric vehicles.

Chairman of the Indonesian Electric Motorcycle Association Budi Setyadi revealed that sales of electric motorcycles reached 53 thousand units until June 2023, or increased significantly compared to the previous year.

He is optimistic that sales of electric motors can penetrate 150 thousand units by the end of 2023, along with progress and enthusiasm from the community to welcome subsidies from the government and several special incentives for electric vehicles.