Indika to Open EV Rental

By Editorial Team 13/07/2023
electric motorcycle subsidies
Summary

PT Indika Energy Tbk (INDY) is expanding its electric vehicle business. In the information disclosure report on the Indonesia Stock Exchange, Indika stated that it had established a new subsidiary named PT Kalista Soter Hastia (KSH) which is engaged in the electric vehicle rental business. "KSH will rent out four-wheeled electric vehicles, sell new and used cars, spare parts, accessories, as well as electricity," INDY corporate secretary Adi Pramono said on Tuesday.

KSH was founded on Jul 7 by Indika Energy subsidiaries PT Kalista Nusa Armada (KNA) and PT Solusi Mobilitas Indonesia (SMI). KSH holds a 99.99 percent stake, while SMI owns the rest.

According to Adi, assigning KNA and SMI as KSH's shareholders is Indika Energy's attempt to cement its EV business, especially in the business-to-business (B2B) segment.

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