'Champion of Indonesia': Prabowo Inaugurates Bakrie Group’s Electric Vehicle Plant

MAGELANG, Investortrust.id — President Prabowo Subianto, donning his signature safari shirt, stood before a phalanx of silent, high-tech machinery on Thursday to signal a noisy departure from Indonesia’s carbon-heavy past. With the push of a ceremonial siren, the President inaugurated the commercial electric vehicle assembly plant of PT VKTR Teknologi Mobilitas Tbk, calling the facility a "historic milestone" in the nation’s quest for industrial self-reliance.

The factory, nestled in Magelang, is the latest bet by the Bakrie Group—one of Indonesia’s most storied conglomerates—on the future of green transport. Accompanied by VKTR Board Chairman Anindya Bakrie and several cabinet ministers, Prabowo inspected the assembly lines, at one point testing the passenger seats of a newly minted electric bus and questioning its ability to navigate the steep, volcanic inclines of the Indonesian interior.

The inauguration is more than a ribbon-cutting for a new factory; it is a centerpiece of Prabowo’s broader economic doctrine to transform Indonesia from a mere exporter of raw commodities into an industrial powerhouse. By localizing the production of heavy-duty electric vehicles (EVs), Jakarta aims to kill two birds with one stone: slashing the multi-billion dollar annual burden of fuel subsidies and capturing a dominant slice of the Southeast Asian green energy supply chain.

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The 'Champion' and the Vision

During his remarks on April 9, Prabowo hailed the initiative as a fulfillment of a national necessity. "This is what we expect from the sons and daughters of the Indonesian nation," the President said. He praised the Bakrie family for their "clear vision" in participating in the nation’s industrialization, referring to the project as a "Champion of Indonesia" in the transition toward renewable energy.

"We must leave behind energy from carbon and fossils; we should use them only for strategic purposes," Prabowo told the assembled guests. "Today I am very happy and proud that we in Indonesia now have the capability to produce electric buses and trucks."

Anindya Bakrie, who also serves as the CEO of parent company PT Bakrie & Brothers Tbk (BNBR), detailed an ambitious roadmap. The Magelang facility is targeted to churn out 500 units this year. The company’s portfolio has already expanded beyond transit buses to include electric forklifts, commercial vans, and heavy-duty trucks.

Market Dominance and Financial Traction

The business case for VKTR is already gaining momentum. As of early 2026, the company—which trades on the Indonesia Stock Exchange under the ticker VKTR—has captured roughly 30% of the electric bus market for Transjakarta, the capital’s massive Bus Rapid Transit (BRT) system.

According to financial data released for the 2025 fiscal year, VKTR’s revenue grew to Rp 1.09 trillion (approximately $68.5 million), up from Rp 1 trillion the previous year. While net profits remained slim at Rp 423 million ($26,600) due to heavy investment in infrastructure, gross profit rose 10.4% to Rp 197 billion ($12.4 million), suggesting that the margins for electric heavy vehicles are beginning to outpace their internal combustion predecessors.

A Cultural Shift in Transit

The government’s strategy relies on a "carrot and stick" approach to public habits. State Secretary Prasetyo Hadi, speaking in Jakarta on April 8, emphasized that manufacturing is only half the battle. "We must begin to transform the culture from consuming fossil-based raw materials toward new renewable energy," he said. The administration is pushing for a shift from private car ownership to eco-friendly public transportation, provided that high-quality, Indonesian-made alternatives are available.

VKTR’s CEO, A. Ardiansyah Bakrie, noted that the company is diversifying its buyer base. Beyond the capital’s transit authorities, orders are flowing in from mining firms, private developers in Jakarta, and municipal governments in cities like Malang.