ANTARA - PT VKTR Teknologi Mobilitas Tbk (VKTR) has expanded its commercial electric vehicle (EV) client portfolio, which previously focused solely on B2G (business to government), to now include B2B (business to business).

“In facing today’s market challenges and opportunities, the company has broadened its focus to the B2B sector, targeting industries that require vehicles for operations such as mining haulage, plantation logistics, and timber transport,” said VKTR President Director Gilarsi W. Setijono in a statement in Jakarta on Friday.

This effort is reinforced by the development of promising prototypes and product trials, demonstrating VKTR’s commitment to innovation and operational excellence. While the B2G segment remains a key part of VKTR’s strategy, this diversification aims to reduce dependency on government procurement, which can be influenced by political and economic factors.

The potential for electrifying commercial vehicles is enormous – there are more than 6 million trucks and 260,000 buses in Indonesia, with the electrification rate for both types of vehicles currently at less than 0.1 percent.

In addition, industrialization remains a strategic initiative for the company to strengthen its position as a pioneer in the commercial EV sector. This was marked by the groundbreaking of Indonesia’s first Completely Knock Down (CKD)-based Commercial Electric Vehicle Facility on February 27, 2024. Located in Magelang, Central Java, the facility is a joint venture between our company and Karoseri Tri Sakti under PT VKTR Sakti Industries (VKTS).

“We acknowledge that, similar to the previous quarter, the performance of our electric vehicle (EV) segment continues to be impacted by temporary delays in orders from our B2G clients due to political events earlier this year. Nevertheless, we affirm that our backlog remains strong. VKTR is committed to our mission of accelerating sustainable mobility and leading the EV market in this country,” Gilarsi stated.

VKTR is confident that the company’s strategic investments in local manufacturing, the completion of the CKD facility in Magelang, and our diversification into electric mining trucks will contribute to long-term success. Despite short-term challenges, the company’s strong order book and commitment to financial discipline position us well for the future.

On this occasion, Gilarsi also announced the company’s consolidated financial report for fiscal year 2023. The consolidated financial statements recorded a net revenue of IDR 1.062 trillion in 2023, down slightly by 0.93 percent compared to the previous year’s IDR 1.071 trillion in 2022.

 “This adjustment was largely due to a shift in bus procurement by the government sector, which is expected to recover in the upcoming period,” he added.

Total assets increased by 62 percent to IDR 1.668 trillion from IDR 1.033 trillion in the same period, mainly driven by funds raised from our initial public offering in mid-2023.

 Meanwhile, total liabilities decreased by 31 percent to IDR 521 billion in 2023 from IDR 758 billion, primarily due to a significant reduction in short-term liabilities.

Source: https://www.antaranews.com/berita/4000680/vktr-perkuat-layanan-kendaraan-listrik-komersial-b2g-dan-b2b 

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