Jakarta – PT Indika Energy Tbk (INDY), through its subsidiaries, PT Indika Energy Infrastructure (IEI) and PT Solusi Mobilitas Indonesia (SMI), established a company called PT Mitra Motor Group (MMG).

According to Adi Pramono, Corporate Secretary of Indika Energy, MMG's objectives and business activities are to wholesale new cars and spare parts for four or more motorized vehicles and their accessories, operate electricity supply installations, and provide management consulting services.

"The inclusion of the company's shares in MMG is a step for the company to expand its business in the electric vehicle sector in Indonesia," said IDX information disclosure on Wednesday (6/22).

The ownership structure of MMG is 99.9975% SMI and 0.0025% IEI, with a total capital of Rp40 billion.

Previously, Indika, through its two subsidiaries, namely PT Indika Energy Infrastructure and PT Solusi Mobilitas Indonesia, established the sub-