PT Indika Energy Tbk (INDY), with its business entity,  PT Indika Energy Infrastructure (IEI), has established a company called PT Electra Mobility Indonesia (EMI).

The composition of share ownership in EMI is that the company controls 99.99% or equivalent to Rp39.999 billion and IEI 0.0025%, equivalent to Rp1 million.

"The inclusion of the company's shares in EMI is the company's step to expand into the electric vehicle sector in Indonesia," said INDY's Corporate Secretary, Adi Pramono, in the IDX disclosure, Thursday (8/4).

The establishment of EMI was approved as a legal entity by the Minister of Law and Human Rights on April 5, 2021.

EMI will be engaged in wholesale trading of motorcycle parts and accessories, wholesale trading of various spare parts (auto components and accessories), and management consulting services.