Indonesian Bakrie Subsidiary To Develop EV Components

PT Bakrie & Brothers, through its subsidiary PT VKTR Teknologi Mobilitas, is the latest Indonesian conglomerate to enter the country’s nascent electric vehicle industry, collaborating with two state-owned enterprises. VKTR will work with heavy equipment manufacturers PT Industri Kereta Api (INKA) and PT Barata Indonesia to make components for electric vehicles (EVs). VKTR is a start-up focusing on the transportation, electrification and telematics ecosystem. It has collaborated with global EV manufacturers such as BYD Auto, battery producer Britishvolt, bodybuilding company Tri Sakti and United Kingdom-based electric mobility tech firm Equipmake.

The heads of agreement (HoA) between VKTR and INKA and Barata was signed by INKA finance, HR and risk management director Andy Budiman, VKTR president director Gilarsi W. Setijono and PT Barata marketing director Sulistyo Handoko.