IBC Accelerates Business Growth with Acquisition of Gesits

By Editorial Team 19/12/2022
Gesits assembling factory
Topic

Indonesia Battery Corporation (IBC) officially took over 53.93 percent stakes in Gesits electric motorcycle manufacturer PT Wika Industri Manufaktur (WIMA) from PT Wijaya Karya Industri and Konstruksi (WIKON), a subsidiary of PT Wijaya Karya Tbk (WIKA). After the transaction, WIMA's shareholder consists of IBC at 53.93 percent, WIKON at 46.04 percent, and WIKA Employee Cooperative at 0.03 percent.

The Sales and Purchase Agreement (SPA) signing for WIMA shares took place on Tuesday. IBC President Director Toto Nugroho said that acquiring WIMA shares is IBC's step to accelerate the electric vehicle ecosystem in Indonesia, which is integrated with the electric battery industry. "The collaboration between WIKON and IBC is carried out by encouraging Gesits as a two-wheeled electric motor vehicle platform integrated with the end-to-end value chain EV [electric vehicles] battery and EV Ecosystem from upstream to downstream. Including utilizing the network owned by the SOEs group that houses IBC for electric vehicle charging infrastructure development," Toto said on Friday.

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