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| Groundbreaking ceremony for the Electrum electric motorbike factory. (Source: Electrum) |
Coal mining company PT TBS Energi Utama and tech giant GoTo, which brings together ride-hailing firm GoJek and e-commerce platform Tokopedia, have started construction of an electric motorbike factory in Indonesia.
The investment comes as the Southeast Asian country aims to operate at least 9 million electric two-wheelers by 2030.
Named PT Energi Kreasi Bersama (Electrum), the joint venture of the two companies said the plant will cover an area of 3 hectares and be located at the Greenland International Industrial Center Cikarang, in Bekasi, West Java, about 60 kilometers from Jakarta.
The plant is expected to begin production in 2024 with an expected output of 250,000 vehicles per year.
However, Electrum did not disclose the total investment in the factory, which includes a research center and test track.
GoTo - one of Southeast Asia's largest e-commerce and ride-hailing companies - said the factory is a key step towards converting its entire fleet to electric by 2030.
Meanwhile, TBS Energi announced that the plant will help the company gradually reduce its dependence on fossil fuels and achieve its goal of being carbon neutral by 2030.
Last year, TBS Energi announced it would allocate $350 million to the Electrum joint venture by 2025, while also dedicating $150 million to renewable energy projects.
Indonesia, a nickel-rich country and the world's top coal exporter, is ramping up investment in electric vehicle and battery manufacturing as part of its efforts to become carbon neutral by 2060.
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