Auto Component Issuers Shifting Focus to EV

Issuers involved in automotive component production are now shifting their focus toward the development of electric vehicle components. Companies within the Triputra group and Astra, among others, are gearing up to manufacture products that could cater to the needs of electric vehicle manufacturers.

Ibeth Nurbaiti

29 Jan 2024 - 23.44
Auto Component Issuers Shifting Focus to EV

Illustration of an electric car. Source: Canva

Bisnis, JAKARTA - The emergence of several electric vehicle manufacturers in Indonesia has prompted the automotive component industry to swiftly adapt to this new business opportunity. This includes component companies that are listed on the stock exchange.

One such issuer is PT Dharma Polimetal Tbk. (DRMA), an automotive component producer affiliated with the Triputra Group conglomerate owned by TP Rachmat. DRMA has responded positively to the entry of Chinese electric car manufacturer BYD into the Indonesian market.

BYD made its official debut in the Indonesian market with the launch of three electric cars—Seal, Atto3, and Dolphin—on Thursday (18/1/2024). As part of its investment strategy, BYD has already established seven dealer networks as of January 2024, with plans to expand to 50 outlets by the end of the year.

President Director of DRMA Irianto Santoso expressed optimism about the increasing presence of electric vehicle (EV) brands and models in Indonesia. He believes that this trend will have a significant positive impact and accelerate the process of vehicle electrification across the country.

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