Indomobil, ZD Energy Establish Joint Venture Indo Zeeda Energi
Main Takeaways
|
JAKARTA, Investortrust.id — PT Indomobil Sukses Internasional Tbk (IMAS), one of Indonesia’s major automotive conglomerates, has formed a joint venture with Singapore-based ZD Energy Pte. Ltd. to strengthen its foothold in electric vehicle and energy businesses.
Through its subsidiary PT IMG Sejahtera Langgeng (IMGSt), Indomobil established the new entity—PT Indo Zeeda Energi (IZE)—marking a further push into renewable energy and EV component manufacturing.
Under the agreement signed on Wednesday, July 2, 2025, ZD Energy will hold a 40% stake in the newly formed company, while Indomobil's unit IMGSt will control the majority 60% stake, according to IMAS President Director Jusak Kertowidjojo.
“The establishment of this joint venture is expected to boost Indomobil Group’s performance by expanding business lines aligned with our diversification and automotive growth strategy,” Jusak said in a disclosure to the Indonesia Stock Exchange.
IZE will operate across a wide array of strategic sectors, including the manufacturing of electrical equipment and vehicle components, power sales and electrical installation services, as well as wholesale and retail trading of automotive parts and accessories.
The move underscores Indomobil’s deepening commitment to building an integrated ecosystem for electric vehicles and renewable energy in Indonesia, a market that has gained traction due to government incentives and global decarbonization goals.
Expanding the EV Ecosystem
The joint venture follows a series of strategic steps by Indomobil to tap into the electric vehicle market. Earlier this year, the company became the exclusive distributor of Chinese EV brand Changan in Indonesia.
IMGSejahtera signed the distribution deal with Changan manufacturer Mobitech Co. Ltd. on Feb. 21, 2025. Under the agreement, Indomobil handles nationwide distribution, after-sales service, spare parts, and accessories for Changan vehicles.
“The partnership is expected to positively contribute to Indomobil’s performance by expanding its portfolio of automotive brands,” the company stated.
Changan’s entry adds to Indomobil’s growing list of EV-focused alliances and reinforces its push to capture market share in the emerging segment of environmentally friendly vehicles.