Danantara Eyes Rp2 Trillion Investment in Bakrie Group
Danantara is exploring a potential Rp2 trillion investment in Bakrie Group's VKTR to support electric vehicle expansion and adoption in Indonesia.
Indonesia's sovereign wealth fund, Danantara, is considering a potential Rp2 trillion ($119 million) investment in PT VKTR Teknologi Mobilitas Tbk (VKTR), an electric vehicle company owned by the Bakrie Group. VKTR is a subsidiary of PT Bakrie & Brothers Tbk (BNBR) and is involved in the trading and manufacturing of electric vehicles.
The investment is part of initial discussions to support VKTR's mobility-as-a-service business, with the funding indicating a potential conversion to an equity stake in VKTR. Danantara's Chief Investment Officer, Pandu Sjahrir, believes the investment could help accelerate the adoption of electric vehicles in Indonesia and support the development of the domestic battery value chain.
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