TOBA Owned By Luhut Officially Establishes Joint Venture With Gojek With Initial Capital Of Rp71.75 Billion And Headquartered In SCBD Jakarta

Gojek Indonesia collaborated with PT TBS Energi Utama Tbk to form a joint venture (JV) for the electric motor vehicle ecosystem under the name Electrum. (Photo: Instagram @pandusjahrir)

JAKARTA - The plan of a company owned by Luhut Pandjaitan, PT TBS Energi Utama Tbk. (TOBA) with Gojek to establish a joint venture company was finally officially executed this week.

In TOBA's disclosure of information, quoted on Sunday 12 December, the two parties officially established a new entity named PT Energi Kreasi Bersama (EKB). The EKB was approved by the Directorate General of AHU of the Ministry of Law and Human Rights as of Thursday 9 December.

EKB will have an office at Treasury Tower, SCBD Central Jakarta. TOBA President Director Dicky Yordan explained, TOBA participated in the ownership of EKB through one of the children, namely PT Karya Baru TBS or Batu Hitam Perkasa.

Meanwhile, Gojek invests in this electric vehicle company through a company called PT Rekan Anak Bangsa.

"The authorized capital, issued capital, and paid-up capital of PT Energi Kreasi Bersama is Rp71.75 billion," said Dicky.

However, there has been no further explanation regarding the percentage of ownership of TOBA and Gojek in EKB. What is clear, as previously planned, Dicky said the establishment of this company is to expand into the electric vehicle business line.

"PT Energi Kreasi Bersama was established with the company's aims and objectives to engage in motorcycle assembly, motorcycle trading, motorcycle repair and maintenance, motorcycle financing, battery assembly for motor vehicles, and provider of electric vehicle battery exchange stations," he explained.

Dicky claims that this step is an affirmation of TOBA for its efforts to become an energy issuer that cares more about the environment.

"Participation in the establishment of Joint Creative Energy is one of the issuers' business development strategies to eliminate their carbon footprint and achieve the target of net-zero emissions in 2030," he concluded.