- The government has recently been actively promoting the usage of electric vehicles as official transportation.
- President Jokowi intends to switch to electric vehicles for his official service which might happen in phases.
- A number of issuers have flocked to the electric vehicle (EV) industry as a result of the exciting commercial opportunities.
The government has recently been actively promoting the usage of electric vehicles as official transportation. President Joko Widodo (Jokowiefforts)’s to release a Presidential Instruction (Inpres) addressing the acceleration of the usage of electric vehicles as official vehicles serve as evidence of this.
After the government raises fuel prices, the Presidential Instruction was released. Additionally, President Jokowi intends to switch to electric vehicles for his official service. Nevertheless, the vehicle replacement will happen in phases.
A number of issuers have flocked to the electric vehicle (EV) industry as a result of the exciting commercial opportunities. PT Indika Energy Tbk (INDY), the coal mining issuer of the Indika Group, recently said that they intend to find success in the EV market. Let’s know more about Indonesia (Yuk! Makin Tahu Indonesia) by seeing the list of issuers on the Indonesia Stock Exchange (IDX) that are attempting to enter the electric car market includes INDY.
The following is a list of publicly traded businesses that deal with electric vehicles:
1. Indika Energy (INDY)
Early in 2022, PT Indika Energy Tbk created two new subsidiaries with a focus on electric vehicles. PT Electra Distribution Indonesia, a new company specializing in electric motors, was founded by Indika through its corporate subsidiaries PT Solusi Mobilitas Indonesia (SMI) and PT Ilectra Motor Group (IMG) (EDI). Of course, the objective is to enter the electric vehicle market, namely to engage in the wholesale selling of motorcycles, motorcycle parts, and motorcycle accessories. By making investments in the production of electric vehicles, electric batteries, and related sectors in January 2022, Indika Energy worked with others to create a sustainable new energy ecosystem.
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2. PT NFC Indonesia Tbk (NFCX)
In order to manufacture electric vehicles, PT Volta Indonesia Semesta, a joint venture firm between PT NFC Indonesia Tbk and PT Sicepat Ekspres Indonesia (SiCepat), was established. Volta plans to build a factory in Semarang and produce 5,000 electric motors per month, or 60,000 motors total, over the course of the year. The primary energy source for Volta’s electric vehicles is a Battery Replacement System developed in partnership with PT Energi Always Baru (ESB). Additionally, ESB owns the majority of Volta.
3. PT Wijaya Karya (WIKA)
By taking a majority interest in a startup that makes electric motorcycles, this state-owned construction firm is diversifying its lines of business. The ownership of PT WIKA Industri Manufaktur (WIMA) was acquired by WIKA from PT Gesits Technologies Indo through its subsidiary, PT Wijaya Karya Industri and Konstruksi (WIKON) (GTI).
4. PT TBS Energi Utama Tbk (TOBA) & PT Goto Gojek Tokopedia Tbk (GOTO)
Electrum is a joint venture between TOBA and GOTO that works in the electric motorcycle industry. Electrum intends to test a business possibility in the development of electric vehicles in May 2022. According to TOBA, it will increase long-term capital and make investments in electric and renewable energy sources. The business is also devoted to investing in the field of innovative and renewable energy, particularly electric vehicles, with the proceeds. Even TOBA and GOTO aim to have no emissions by 2030. Additionally, this partnership helps Gojek become into a carbon-neutral platform.
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5. PT Gaya Abadi Sempurna Tbk (SLIS)
In fact, PT Gaya Abadi Sempurna has a long history of trading electronic components and is mostly focused on constructing electric vehicles. E-motor, E-bike, and E-Moped are some of its products. In 2019, the business underwent an initial public offering (IPO) process in which 500 million shares were made available to the general public. This issuer received fresh money worth Rp 57.5 billion from the IPO, which it used to expand the production of electric car components by its subsidiary.
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