China’s Xpeng Reportedly Eyes Acquisition of Shares in Sinar Eka Selaras (ERAL)
JAKARTA, investortrust.id – Chinese electric vehicle manufacturer Xpeng is reportedly planning to acquire shares in PT Sinar Eka Selaras Tbk, or ERAL, strengthening its foothold in Indonesia’s EV market and accelerating the development of a national charging infrastructure.
A source close to investortrust.id revealed that this interest follows ERAL’s recent appointment as the official brand holder agent for Xpeng in Indonesia. Under this partnership, ERAL will not only serve as an authorized dealer but also collaborate with Xpeng to build high-speed EV charging stations across the country.
“Xpeng is expected to acquire shares in ERAL through a rights issue, with the proceeds earmarked for expanding its dealer network and establishing a robust EV charging infrastructure,” the source stated.
The acquisition is expected to boost ERAL’s financial performance, potentially increasing the stock price of the company, which is a subsidiary of PT Erajaya Swasembada Tbk (ERAA). ERAA is a major Indonesian retailer and distributor specializing in technology and lifestyle products.
Xpeng’s investment could position ERAL as a key player in Indonesia’s growing EV industry, benefiting from Xpeng’s expertise in manufacturing and charging technologies.
Xpeng, headquartered in Guangzhou, China, is one of the world’s leading electric vehicle manufacturers. The company delivered 124,478 vehicles from January to October 2024, reflecting a 20.73% year-over-year increase, and has sold a total of 522,789 EVs since its establishment in 2014.
In Indonesia, Xpeng aims to bring its advanced charging technology, which includes high-speed S4 and S5 charging stations. S4 stations deliver peak power of 480 kW, enabling a five-minute charge sufficient for significant driving range. S5 stations, with an 800 kW capacity, can provide one kilometer of range per second of charging.
Beyond Indonesia, Xpeng recently signed a memorandum of understanding with Volkswagen China to develop a fast-charging network. The company currently operates in 420 cities in China, managing 1,790 charging stations and 9,070 charging pillars.
Xpeng’s plans to integrate similar infrastructure in Indonesia underscore its commitment to supporting the adoption of EVs and achieving a sustainable transportation ecosystem in Southeast Asia.
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