Making A New Company, Indika Energy, Owned By Conglomerate Agus Lasmono Sudwikatmono, Getting Steady In The Electric Vehicle Business

Photo: Doc. Indika Energy

JAKARTA - The coal mining company owned by conglomerate Agus Lasmono Sudwikatmono, PT Indika Energy Tbk (INDY) and its subsidiary, PT Indika Energy Infrastructure, have established a new company.

The company was named PT Solusi Mobilitas Indonesia (SMI) and was established on March 25, 2022.

Quoting Indika Energy's Corporate Secretary Adi Pramono, SMI is here to develop the two-wheel motorcycle business. "Both wholesalers of motorcycles and spare parts, as well as accessories, including management consulting services," Adi wrote, Tuesday, March 29.

To establish SMI, Indika Energi deposited IDR 49.99 billion of capital while IEI's was IDR1 million. So that the total capital of SMI reaches IDR 50 billion.

The capital investment is a step for the company to expand its business into the electric vehicle sector.

Previously, the company 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 the revenue from the non-coal sector by 50 percent by 2025.

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.