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IPO, VKTR Becomes the First Public EV Heavy Mobility Company in Indonesia

IPO, VKTR Becomes the First Public EV Heavy Mobility Company in Indonesia

PT VKTR Teknologi Mobilitas Tbk. (“VKTR” or the “Company”) – or also known as ‘Vector’, is a company that focuses on developing electric vehicle eco systems in the heavy mobility segment. This company officially listed its shares on the Indonesia Stock Exchange (BEI) with the stock code “VKTR”, on Monday (19/6/2023). VKTR is now the first public company in Indonesia to focus on the heavy e-mobility market, namely Battery-Based Electric Motorized Vehicles (KBLBB) in the commercial vehicle segment with the main products EV Bus and EV Truck.

“VKTR chose to develop the KBLBB business in the commercial vehicle segment such as buses and trucks. “Based on data, the need for buses in the city of Jakarta alone will reach more than 10,000 units by 2030. If you calculate the potential throughout Indonesia, the figure of 10,000 units could be 20 times greater,” said VKTR Main Commissioner, Anindya N. Bakrie, Monday. (19/6/2023).

Meanwhile, VKTR Main Director Gilarsi W. Setijono said that currently TransJakarta operates 30 units of the BYD brand, and will soon add 22 units with the same brand, all of which are supplied by VKTR. This is one of the results of the Company’s efforts to continue to strengthen and develop strategic partnerships with the largest electric vehicle industry player in the world, BYD Auto.

“Currently we are bringing in K-9 type buses in CBU (completely built-up) directly from the BYD factory in Shenzhen, China. In the next stage, we are starting to pioneer the process of building assembly facilities in Indonesia with local assembly company partners who are experienced in their fields,” Gilarsi said.

Gilarsi added, apart from electric buses, the Company is also expanding into the EV truck business. The potential of the truck market in Indonesia will continue to grow. “Our data shows that by 2023 the EV truck market is expected to exceed 111,000 units per year. The growth trend in the mining, palm oil and other sectors continues to strengthen compared to 2022. Growth indicators can also be seen in the logistics sector. “With many sectors starting to grow, it is estimated that sales of commercial vehicles will be in line,” said Gilarsi.

VKTR collaborates with local partner Trisakti as a KBLBB assembly facility, especially EV bus units with a planned initial assembly capacity of 500 units/year, located in Magelang, Central Java. “We are committed to developing this facility into a reliable manufacturing line for KBLBB buses and trucks, with capacity increasing to more than 3,000 units per year. “It is hoped that the Company will be able to fulfill the TKDN (Domestic Content Level) provisions set by the government, and become a national product that we can all be proud of,” said Gilarsi again.


Bakrie & Brothers history bg

Perjalanan perusahaan dimulai dengan kisah bisnis perdagangan kecil yang berkembang, dan selama lebih dari 75 tahun berkecimpung di bisnis investasi / divestasi, telah mencapai berbagai prestasi dan mengantarkan Bakrie menjadi salah satu korporasi terkemuka di Indonesia.