Jakarta, CNBC Indonesia – PT M Cash Integration Tbk (MCAS), through its subsidiary PT NFC Indonesia Tbk (NFCX), cooperates with courier service company PT SiCepat Expres Indonesia (SiCepat) to enter the electric vehicle (EV) business by forming a joint venture company. (joint venture) named PT Energi Always Baru (ESB). According to the company’s disclosure of information on the Indonesia Stock Exchange (IDX), Wednesday (9/6), later, ESB will focus on distributing electric motorcycles, exchanging batteries and various supporting services. The NFCX subsidiary, which was also briefly associated with renowned artist Raffi Ahmad, PT Digital Mediatama Maxima Tbk (DMMX), and issuer of human resources (HR) and logistics solutions provider PT Telefast Indonesia Tbk (TFAS) will have a minority stake in ESB. DMMX and TFAS will focus on providing commercial, infrastructure and ecosystem support for the ESB. In the written statement, Director & Corsec MCAS Rachel Siagian said that ESB would have a majority stake in a motorcycle and electric bicycle manufacturer from Semarang, PT Volta Indonesia Semesta (Volta). Rachel said, ESB aims to increase the absorption and acceptance of EV use in Indonesia by providing seamless distribution of electric motorcycles and battery exchange services, powered by digital platforms and Internet-of-Things (IoT) technology. “Volta will become the main electric motorcycle production house for ESB with NFCX providing and managing a digital platform for vehicle registration and management, payments and rewards,” Rachel said, quoted by CNBC Indonesia, Wednesday (9/6). It is planned that ESB will utilize the logistics capabilities and networks of SiCepat and TFAS to plan and deploy battery exchange stations. For your information, apart from having a business line in the Human Resources (HR) industry that is integrated with digital technology, TFAS also has a subsidiary, PT Logitek Digital Nusantara (LDN), which focuses on courier and logistics. Previously, LDN also collaborated with SiCepat to develop a package delivery drop point. In addition, the expansion of the battery exchange network will also use the extensive DMMX retail store network throughout the country. Volta Director Willty Awan explained that the company welcomes the partnership with NFCX and various affiliated technology companies within the MCAS Group to take EV adoption in Indonesia to the next level. “Recognizing that Indonesia’s greener value proposition is motivated by a more environmentally conscious population, NFCX is pleased to lead the Group’s advancement into Indonesia’s promising EV market,” said NFCX President Director Abraham Theofilus. Meanwhile, according to SiCepat CEO The Kim Hai, for the first phase, the company will add around 5,000 ESB electric motorcycles to the SiCepat fleet and will continue to add electric motorcycles to support the government’s efforts towards a greener Indonesia. Meanwhile, the President Director of TFAS said that his party will try to integrate the battery exchange station into the company’s growing logistics drop point network. DMMX President Director Budiasto Kusuma added, “We hope that the additional traffic from EV drivers (the Ministry of Energy and Mineral Resources (ESDM) projects the number of electric motorcycles to reach 13 million units by 2030) will also benefit our partner shops.” Budiarto said this collaboration is an important step for the sustainable transformation of the stalls under our network to be able to meet the new demands of new Indonesian consumers. Referring to the statement from MCAS, the company’s electric motorcycle is already in beta testing with government agencies and several private companies. The electric motorcycle and its supporting facilities are expected to be opened for mass market access by the end of the second half of 2021. “Furthermore, our electric motorcycle will come with several price models for battery exchange that will meet the needs of frequent riders, infrequent (non-frequent), long distance, and short distance,” explained the MCAS. Rachel explained, this marks the Group’s first step in entering the promising Indonesian EV market and is predicted to grow in tandem with the government’s efforts to develop an integrated EV industry. “Equipped with natural resources (nickel, cobalt, and copper), Indonesia has actively engaged various foreign companies to partner to improve the value chain related to EV battery production,” he said. According to the MCAS explanation, the Jokowi government is targeting to have 374,000 electric cars, 11.8 million electric motorcycles, 6 thousand units of General Electric Vehicle Charging Stations (SPKLU) and 17 thousand General Electric Vehicle Battery Exchange Stations (SPBKLU) by 2025. By 2030 This figure is expected to grow to 2.2 million units for electric cars, 13 million units for electric motorcycles, 32 thousand units for SPKLU and 67 thousand units for SPBKLU. In addition, according to the Indonesian Investment Coordinating Board (BKPM), Indonesia aims to increase investment in the EV battery sector to US$ 35 billion by 2033. Just so you know, DMMX is a subsidiary of NFCX and part of the M Cash Group. DMMX is a digital commerce marketing and cloud advertising exchange platform that provides a wide range of end-to-end services. Previously, DMMX was recorded as collaborating with Raffi Ahmad’s company, RANS Entertainment to form a joint venture to build a digital social media marketing platform and the establishment of a joint venture (JV), PT DMMX Rans Digital (DIGIRANS). This company will manage the platform. DMMX owns 33.33% shares worth Rp 300 million. Meanwhile, NFCX is engaged in information technology, digital, and telecommunications services. The parent, MCAS, is a company that provides digital products, such as credit and electricity tokens. Then, TFAS is an issuer that was founded in 2008 which is engaged in the marketing of telecommunication products, digital integrated HR solutions and the field of courier and logistics. Lastly, Volta is an electric bicycle and motorcycle manufacturer that was founded on October 9, 2017 and started marketing electric bicycle products in February 2018. CNBC INDONESIA RESEARCH TEAM