JAKARTA – PT Indika Energy Tbk (INDY) will explore the downstream electric vehicle (EV) industry by establishing a distribution company and an EV repair shops. Both entities were formed under subsidiaries entirely owned by INDY indirectly last week.
Adi Pramono, Corporate Secretary of Indika Energy, confirmed PT Solusi Mobilitas Indonesia (SMI) and PT Ilectra Motor Group (IMG) introduced PT Electra Distribusi Indonesia (EDI), the electric motorcycle distributor, on April 27, 2022. “EDI will focus on the general trading of electric motorcycle spare parts,” he stated in the information disclosure quoted Wednesday (11/5).
EDI’s capital clocks up to IDR 1 billion, 99.9% of which belongs to EDI, while SMI claims the remaining 0.1%.
In addition, SMI and EDI also established PT Electra Auto Indonesia (EAI), a retail and electric motorcycle maintenance company, on April 28, 2022. Its capital equals IDR 1 billion. Similarly, EDI controls 99.9% of them, while SMI has 0.1%.
“The equity participation is the company’s strategy to expand its business in the EV sector,” Pramono claimed. (LK/ZH)