Electrum and Pertamina NRE Explore Electric Vehicle Ecosystem Collaboration

Nusa Dua, November 13, 2022 - Electrum, a joint venture company of PT GoTo Gojek Tokopedia Tbk (“GoTo Group”, IDX: GOTO) and PT TBS Energi Utama Tbk (IDX: TOBA) signed the points cooperation terms sheet (Heads of Agreement Terms Sheet) on November 12, 2022, with Pertamina New and Renewable Energy (Pertamina NRE), a subsidiary of PT Pertamina (Persero).

The signing of the agreement was carried out by Managing Director of Electrum, Patrick Adhiatmadja and Chief Executive Officer of Pertamina NRE, Dannif Danusaputro.

Electrum and Pertamina NRE will explore cooperation in the electric vehicle ecosystem, including collaboration related to battery infrastructure, such as technology development, and manufacturing, until commercialization.

This step reaffirms Electrum’s commitment as the movement’s initiator to build an integrated and complete electric vehicle ecosystem in Indonesia.

Managing Director of Electrum, Patrick Adhiatmadja, stated the company’s readiness to present a complete and integrated electric vehicle ecosystem. “Electrum and Pertamina NRE are ready to support the national energy transformation target achievement. The potential of electric vehicle adoption in Indonesia requires comprehensive collaboration from several parties, including the private sector and state-owned enterprises. Thus, the electric vehicle ecosystem can develop optimally and widely utilized.”

On the same occasion, Dannif Danusaputro, CEO of Pertamina NRE, said, “The change from fossil fuel to electric vehicles will happen sooner or later. Pertamina NRE, through the Indonesia Battery Corporation, is participating in the electric vehicle ecosystem development in Indonesia. We believe that collaboration with various parties will accelerate the development of this ecosystem, including this strategic partnership with Electrum.”

Electric Vehicle Development: Indonesia Is On The Right Track, Electrum Is Ready

Furthermore, Patrick, in his presentation at the BloombergNEF Summit Bali 2022, said that Indonesia is on the right track to accelerate the electric vehicle adoption in Southeast Asia. According to him, the electric vehicle ecosystem development in Indonesia can add value to the economy worth 10 billion US dollars and open up 200,000 new jobs by 2030.

“Indonesia has three main advantages in developing the electric vehicle industry. First, Indonesia’s position is the largest two-wheeled motorcycle market in Southeast Asia. Second, it already has the capability for motor vehicles manifacturing. Finally, Indonesia has the world’s largest nickel reserves, which are the main material for making batteries. These three things confirm Indonesia’s electric motorcycle potential, and global investors have even looked at it,” said Patrick.

He stated that there is still much work on supply and demand to maximize the potential. “The battery infrastructure development is one solution to ensure the development of the electric vehicle ecosystem acceleration in Indonesia. The development of electric vehicles must go hand in hand with the battery infrastructure development. Electrum is in a strategic position to gain insight into the development of battery infrastructure, especially the battery recharging mechanism through trials conducted with Gojek driver partners.”

Previously, Electrum had collaborated with another Pertamina subsidiary, namely Pertamina Patra Niaga, to test electric vehicles in Jakarta with Gogoro and Gesits.

Pertamina, the largest energy company in Indonesia, also has a strategic role in supporting national energy security. On the other hand, Pertamina is also actively decarbonizing its business, as well as building a green business through its subsidiary, Pertamina NRE.

Not only the electric vehicle ecosystem, Pertamina NRE is also developing non-fossil fuels for vehicles, namely clean hydrogen. Clean hydrogen, specifically blue and green hydrogen, could be a solution for hard-to-abate industries and the transportation sector. Pertamina NRE also collaborates with several strategic partners to develop clean hydrogen.

Pertamina NRE is committed to supporting Indonesia’s net zero roadmaps and Sustainable Development Goals through environmental, social, and governance (ESG) implementation.

The collaboration between Electrum and several parties, including Pertamina NRE, is an example of a strategic step that needs to be taken to present an inclusive and innovative ecosystem as Indonesia’s vision and mission to become a pioneer in the development of electric vehicles, regionally and globally.

Electrum

As a pioneering technology company in Indonesia’s EV sector, Electrum is the initiator of the nation’s mobility electrification movement. Electrum utilizes the combined capabilities and expertise of Gojek and TBS Energi to develop clean and economical transportation solutions, consistent with Gojek and TBS’s commitment to reducing emissions and contributing to the nation’s journey toward decarbonization and Nationally Determined Contributions (NDCs).

Electrum’s passion is to catalyze the EV ecosystem in Indonesia and support local power development to ensure meaningful, relevant, and credible solutions in building a new mobility system for the nation and future generations. To realize this big goal world-class technology, processes, and human resources are applied. As well as partnering with leading platforms on a national and global stage.

Efforts to provide clean transportation solutions are based on the service intended to protect the environment and communities around us, as well as contribute to Indonesia’s energy independence and national climate initiatives.

For more information, visit www.electrum.id and follow us on Instagram: @electrum.id.

About Pertamina New & Renewable Energy (Pertamina NRE)

Pertamina NRE is a subsidiary of a State-Owned Enterprise (BUMN), namely PT Pertamina (Persero), the largest energy company in Indonesia, consisting of four business entities: PT Pertamina Geothermal Energy (subsidiary), PT Jawa Satu Power (affiliate) , PT Jawa Satu Regas (affiliate) and PT Indonesia Battery Industry. Its business focuses on developing clean energy. Pertamina NRE is highly committed to supporting Indonesia’s net zero emissions by 2060 through energy transition and ESG implementation.

GoTo

PT GoTo Gojek Tokopedia Tbk (GoTo Group) is the largest digital ecosystem in Indonesia. GoTo’s mission is to “drive progress” by offering technology infrastructure and solutions for everyone to access and thrive in the digital economy. The GoTo ecosystem consists of on-demand services (mobility, food delivery, and logistics), e-commerce (third-party marketplaces + official stores, instant commerce, interactive commerce, and rural commerce), and financial technology (payments, financial services, and technology solutions for traders) through the Gojek, Tokopedia, and GoTo Financial platforms.

TBS

TBS is an integrated energy company conducting business activities in the electricity, mining, and plantation sectors through its subsidiaries. In developing its current business, TBS is committed to reducing its carbon footprint and contributing to improving the environment and the next generation by setting a target to achieve carbon neutrality by 2030.

In the electricity sector, TBS has a subsidiary developing the 2x50 MW PLTU Sulut-3 project in North Sulawesi and the 2x50MW Sulbagut-1 PLTU project in Gorontalo, as well as one subsidiary developing the 2x3 MW mini hydro power plant project in Lampung. Meanwhile, in the mining sector, TBS has three owned subsidiaries.