Danantara Pumps Up to $126 Million into EV Play VKTR to Power Commercial Fleet Expansion

JAKARTA, Investortrust.id — Commercial electric vehicle pure-play PT VKTR Teknologi Mobilitas Tbk (VKTR) locked in an indicative funding commitment of up to Rp 2 trillion ($125.8 million) from local asset manager PT Danantara Investment Management (DIM) to accelerate its heavy fleet deployment.

The capital infusion hinges on an indicative, non-binding term sheet inked on August 28 by VKTR, institutional investor DIM, and parent infrastructure conglomerate PT Bakrie & Brothers Tbk (BNBR), which stepped up as guarantor. The transaction carries a conversion option, potentially handing DIM an equity stake down the line.

Southeast Asia's race to electrify mass transit and commercial haulage is accelerating, and VKTR is positioning itself at the absolute center of public-sector green transitions. The substantial capital runway allows the company to scale its asset-heavy mobility-as-a-service business model before foreign competitors secure local bus and truck supply chains.

Powering Fleet Electrification

VKTR plans to channel the net proceeds straight into expanding its operational fleet capacity, securing critical transport units to fulfill industrial and public logistics mandates.

"The planned financing will be utilized, among other things, to finance the procurement of electric buses and electric trucks, with additional allocations to be finalized by the parties in the definitive agreement," VKTR Director Indah Permatasari Saugi stated in an official disclosure filed with the Indonesia Stock Exchange.

The procurement push expands VKTR's reach across the municipal transit network and mining logistics corridors, where electric commercial haulers are rapidly replacing internal combustion fleets.

Navigating The Definitive Pact

Management stressed that the initial agreement remains non-binding and merely outlines the commercial baseline ahead of definitive contract execution. VKTR pledged full compliance with regulatory requirements covering affiliated transactions, conflicts of interest, and material transactions as negotiations advance.

Leadership confirmed the term sheet's execution triggers no material negative disruptions to ongoing operations, financial health, or baseline legal standing. VKTR expects the finished transaction to significantly boost top-line revenue growth across its operating subsidiaries as new electric commercial vehicles hit the tarmac.