DRMA Teams Up With Hong Kong’s Minth to Build $11.3M EV Component Plant

JAKARTA, Investortrust.id — Listed automotive components manufacturer PT Dharma Polimetal Tbk (DRMA) has formed a joint venture with Talentlink Development Ltd., a global unit of Hong Kong-listed auto-parts titan Minth Group, to construct a dedicated manufacturing facility for electric vehicle (EV) components.

Operating under the corporate banner PT Dharma Minth Indonesia (DMI), the joint venture will fabricate lightweight structures and specialized exterior parts tailored for the next generation of four-wheel passenger transport.

Under the partnership agreement executed on Tuesday, Sept. 15, 2026, DRMA holds a 49% minority interest in the venture, while Talentlink Development retains a 51% controlling majority.

Southeast Asia’s largest economy is rapidly accelerating efforts to localize advanced automotive supply chains as global automakers build assembly lines across West Java. By linking arms with an established multinational player like Minth Group, Dharma Polimetal is positioning itself beyond legacy internal combustion hardware to capture high-margin demand for structural EV assemblies, battery protection systems, and lightweight aluminum components.

Capital Architecture and Component Portfolio

DMI has been established with an authorized capital base of Rp 180 billion ($11.32 million). Its issued and fully paid-up capital stands at Rp 45 billion ($2.83 million), comprising shares with a nominal value of Rp 1 million ($62.89) each.

The manufacturing enterprise will engineer and manufacture specialized automotive components for four-wheel vehicles. Its core production catalog includes battery housing assemblies, aluminum extrusion-based body and chassis structures, and custom-designed automotive plastic components.

"With a 49% equity holding in Dharma Minth Indonesia, the company actively participates in driving the joint venture's business expansion," Dharma Polimetal President Director Irianto Santoso explained during a briefing at the firm's plant in Cikarang, Bekasi, on Tuesday, Sept. 15, 2026.

Santoso noted that forming DMI represents a key strategic pillar in the group's ongoing drive to scale its automotive component capabilities and satisfy surging demand from commercial four-wheel original equipment manufacturers.

Financial Timeline and Commercial Production Targets

From an accounting standpoint, the joint venture will influence Dharma Polimetal's bottom line through the recognition of its proportionate share of DMI’s net profits or losses under the equity method. At the time of the announcement, corporate management confirmed that the transaction does not yet carry a material impact on the company’s broader financial health or going-concern status.

DRMA’s executive team expects Dharma Minth Indonesia to start initial trial production runs in the second quarter of 2027.

Commercial product deliveries to automaker clients are scheduled to commence in the third quarter of 2027, with the venture's financial performance projected to meaningfully flow through to Dharma Polimetal’s consolidated balance sheet next year.