Vmoto Invest US$3.2 Mln in Electric Motorcycle Producer Charged

By Editorial Team 20/03/2023
electric motorcycle
Summary

PT Industri Charged Mobilitas, electric motorcycles manufactured under the Charged brand, secured US$3.2 million in a funding round from global electric vehicle company Vmoto Soco Group, DealStreetAsia reported on March 14.

This investment is seen as a sign of Vmoto's trust in Charged after their successful collaboration in developing the EVaaS (Electric Vehicle as a Service) business.

Vmoto Soco Group acquired an eight percent stake in Charged Indonesia as part of the transaction. Previously, Charged had already obtained early-stage funding worth US$4.5 million from DeClout Ventures.

Charged Indonesia currently operates a 16,000 square-meter zero-energy industrial complex in Cikupa, Tangerang, Banten, where it develops its electric motorcycle products. The production center also serves as a research and development and experiential center. Charged also works on a distribution network called E Shed, in addition to its existing Giga-Shed.

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