Bakrie Group, BritishVolt Develop Electric Vehicle Batteries

TheIndonesia.id - PT Vektr Mobiliti Indonesia (VKTR), a spin-off of PT Bakrie Autoparts, a subsidiary of PT Bakrie & Brothers Tbk in the automotive component industry sector, is working with a British company that produces low-carbon electric vehicle batteries, BritishVolt, to develop the electric vehicle battery industry.

The memorandum of understanding signing for cooperation in the field of vehicle electrification was carried out by Anindya N. Bakrie representing VKTR and British Volt CEO Orral Nadjari in London, England, Wednesday, March 23, 2022.

Minister of Investment/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia, the Indonesian Ambassador to the UK Desra Believe, the Chairman of the Indonesian Chamber of Commerce and Industry Arsjad Rasjid, members of the British Parliament Lord Aamer Safraz and Richard Graham and the President of the Confederation of British Industries Lord Karan Bilimoria also attended.

In a written statement in Jakarta, Friday, the Minister of Investment/Head of BKPM Bahlil Lahadalia conveyed that the strategic partnership between VKTR and British Volt was one of the UK's potential investment plans that would be overseen because it was in line with the government's big vision in carrying out economic transformation to create added value through downstream sources.

"I hope that if the two governments have carried out their roles well, then business-to-business relations between business actors from the two countries will run well. In this case, we will ensure all permits and incentives through one door, namely the Ministry of Investment," Lahadalia said.

Anindya N. Bakrie said this momentum was the beginning of cooperation between the two countries in the context of developing the electric vehicle battery industry to accelerate the development of a sustainable electric vehicle ecosystem. VKTR itself focuses on the research and development of digital technology solutions related to the electrification sector of the transportation industry.

"Full support from the government is absolutely necessary so that this investment plan can be realized properly and Indonesia is ready to face the era of vehicle electrification in the coming years," said Bakrie.

BritishVolt CEO Orral Nadjari on the same occasion expressed his hopes for the future from this partnership that has begun to be established. "I want to be involved and see firsthand the results of our strategic partnership going forward. This initiative that we are undertaking is a joint effort in the context of a sustainable transition to net-zero. I also hope that Indonesia can play an important role in accelerating global energy transformation, one of which is through this cooperation that has been signed," said Nadjari.

The Ministry of Investment/ BKPM is fully committed to the success of accelerating the energy transition, one of the main pillars of Indonesia's G20 Presidency, namely by encouraging sustainable investment and the application of new and renewable energy (EBT) by inviting investors from various countries.

Currently, investment in electric batteries in Indonesia comes from South Korea, China, and Taiwan. This investment cooperation plan between VKTR and British Volt is the first from Europe in the context of developing the electric vehicle battery industry.