Indonesia's Gojek and TBS Energi form joint venture in EV industry


Gojek riders wait for their delivery orders at a distribution centre in Surabaya, East Java, on May 17, 2021. Gojek plans to become a net-zero company by 2030 by electrifying all of its fleet. - Jakarta Post/ANN

JAKARTA, Nov 21 (Jakarta Post/ANN): Ride-hailing decacorn Gojek is entering the electric vehicle (EV) manufacturing industry through a joint venture with energy company PT TBS Energi Utama to develop an end-to-end EV ecosystem.

The joint venture, called Electrum, will manufacture electric two-wheelers, battery packaging and battery-swapping infrastructure, as well as providing EV loans.

“This joint venture is part of our effort to use electric vehicles for all of our business lines,” Gojek CEO Kevin Aluwi said during a press conference i n the capital this week, referring to the company's ride-hailing, food, grocery and last mile delivery services.

“So this is a commitment that is at the heart of our core business.”

The company announced in May a commitment to attain net-zero carbon emissions by 2030, which entails switching its entire vehicle fleet to EVs, among other strategies.

Gojek recently started its second EV trial with a goal of deploying 5,000 electric motorcycles.

The technology company previously said that it used EV rental schemes for their drivers, but Kevin said that providing loans was better as drivers could own the motorcycles.

While the size of the investment in the joint venture was not disclosed, TBS Energi Utama vice president director Pandu Sjahrir said that it was “an even split” between the two.

He went on to say that Electrum would need to invest up to Rp 17 trillion (US$1.1 billion) in the next five years to develop a comprehensive EV ecosystem in Indonesia.

“We’re starting with electric two-wheeler manufacturing because Indonesia has a big market demand for motorcycles,” he said, adding that TBS also aimed to be carbon neutral by 2030.

While the size of the investment in the joint venture was not disclosed, TBS Energi Utama vice president director Pandu Sjahrir said that it was “an even split” between the two.

He went on to say that Electrum would need to invest up to Rp 17 trillion (US$1.1 billion) in the next five years to develop a comprehensive EV ecosystem in Indonesia.

“We’re starting with electric two-wheeler manufacturing because Indonesia has a big market demand for motorcycles,” he said, adding that TBS also aimed to be carbon neutral by 2030.

TBS, a publicly listed company, started its business in the coal industry.

However, Pandu said that the company had transformed over the past year to focus more on investing in renewables, with a plan to invest more than $1 billion in green energy and EVs.

The EV industry has become an increasingly attractive investment as Indonesia, the world’s top nickel producer, aims to become an EV powerhouse.

The government has set a target for the country to export 200,000 electric cars by 2025. The number accounts for around 20 per cent of the expected total of 1 million cars exported per year. - Jakarta Post/ANN

Article type: metered
User Type: anonymous web
User Status:
Campaign ID: 46
Cxense type: free
User access status: 3
Join our Telegram channel to get our Evening Alerts and breaking news highlights

Indonesia , TBS , Gojek , Electric Vehicle , Joint Venture

   

Next In Aseanplus News

Asean News Headlines as at 10pm on Wednesday (Jan 26)
Singapore-Indonesia agreements reflect both sides' interests as well as rights: commentary
Impact of Tuesday’s oil spill off Thailand's Rayong 'could be worse than in 2013'
Hong Kong sees 107 new virus cases, 130 test preliminarily positive
Japan's Kirin says Myanmar unit blocked liquidation in Yangon court
Netizens fume over Thai cafe customer's rude behaviour towards cat
Ex-Wildlife Reserves Singapore manager admits to accepting over S$51k in bribes
Foxconn, other firms look to enter Indonesia’s EV market
Cambodian, Moroccan FMs vow to further advance ties, cooperation
Japan, Singapore must protect global rules-based order: Forum

Others Also Read


Vouchers