JakartaPost-Feb 22, 2022

Conglomerates and start-ups alike are strengthening their grip on the green transportation industry by engaging in the manufacture and procurement of electric vehicles (EV) for their businesses. PT Vektr Mobiliti Indonesia (VKTR) became the latest company to tap into the industry when it announced on Thursday that it would manufacture electric buses (e-buses) in collaboration with local carrosserie manufacturer Tri Sakti and top Chinese EV producer BYD Auto. Other conglomerates in the automotive distribution segment, namely Indika Group, PT Astra International and the massive Salim Group, have also entered the EV industry. Ride-hailing service Grab and e-commerce platform Lazada have begun to use electric bikes for their delivery fleets. Meanwhile, homegrown ride-hailing firm Gojek went a step further by establishing a joint venture, Electrum, with PT TBS Energi Utama to develop an end-to-end EV ecosystem. Institute for Development of Economics and Finance (Indef) executive director Tauhid Ahmad said the rising number of players in the EV industry would benefit consumers, as competition could drive EV prices down. Read more at: https://www.thejakartapost.com/business/2022/02/21/conglomerates-start-ups-enter-electric-vehicle-industry.html.