Low Electrum EV Penetration, Pandu Sjahrir: Small Adoption Side

JAKARTA - PT TBS Energi Utama Tbk (TOBA) revealed that it will continue to boost the Electric Vehicle (EV) business through the TOBA joint venture with GOTO Electrum.

Deputy President Director of PT TBS Energi Utama Tbk (TOBA) Pandu Patria Sjahrir who is also Luhut Binsar Pandjaitan's nephew said the EV TOBA business was running well even though it had to grow gradually.

"Alhamdulillah, the progress is good, but we have to trace it gradually so it won't be too soon, because first it's a matter of adoption," he said when met in Jakarta, Friday, April 26.

Sjahrir said, actually the issue of EV adoption is crucial and critical industrial. So far, Elektrum users have been satisfied with the quality of the products produced.

Regarding EV's contribution to the company's financial performance, Pandu said it was still very small. Pandu is also reluctant to provide leaks related to the amount of EV confidence in the company's financial performance.

"It's still small because in terms of adoption, it will be small within the next 2-3 years. From the adoption side, four-wheelers are better than two-wheelers. Two road vehicles must have long breaths but we continue to invest there, the important thing is that people use them," explained Pandu.

Pandu also explained that EV adoption in the community was still quite low because the majority of Indonesians still saw two-wheeled vehicles as assets, while foreigners considered two-wheeled vehicles as operational costs.

Moreover, he continued, the Indonesian people are also still observing the market and after market where there is a possibility that electric motors can be resold. Then in terms of quality, the community also prefers cheap electric vehicles.

"Many people see the price as cheap as possible but people start to complain about the quality. So they want good quality. We focus on good quality so take time," continued Pandu.

Just so you know, TOBA noted that until April 2024 there were 1,030 units of electric motorcycles, Electrum, which were paved on the highway.

said that this year his party spent at least 5 to 7 million US dollars to develop the EV business with GoTo.

"Continue (to cooperate with GoTo). There will be no changes. This year from our ssi 5-7 million from the FFB portion," he said.