Gojek forms JV with local energy firm for EVs in Indonesia

Indonesian decacorn Gojek and energy firm TBS Energi Utama have formed a joint venture called Electrum, which will focus on the adoption of electric vehicles in the country.

The companies have initially injected US$10 million into Electrum, and the investment could go up to US$1 billion within the next five years.

Photo credit: Tech in Asia Indonesia

TBS Energi Utama has a budget of around US$1.2 billion to promote the switch from coal to renewable energy. Influential business leader Pandu Sjahrir is in charge of the company’s operations as vice president director. He is also a board member at Gojek and a managing partner at Indies Capital.

The joint venture aims to build infrastructure for two-wheeler EVs in Indonesia, including batteries, charging stations, and electric motorcycles. It also plans to provide a loan scheme that allows Gojek’s riders to buy e-bikes and pay for it via installment.

“We will be able to support Indonesia’s transition to building a cleaner, more accessible and sustainable mobility system,” Gojek CEO Kevin Aluwi said. “Making EVs the norm will contribute to “the country’s emissions reduction targets and improving air quality in our cities,” he added.

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Earlier this month, Gojek also announced a partnership with Taiwan-based battery station maker Gogoro, e-bike manufacturer Gesit, and state-owned energy company Pertamina. The deal allows Gojek to deploy 500 EVs in Jakarta, along with several battery-swapping posts in Pertamina’s gas stations.

Gojek added that data from the pilot project will be used to develop EV tech and infrastructure in Indonesia. These deals will help Gojek reduce its carbon footprint as it seeks to achieve zero emissions by 2030.