Electric Motor Maker ALVA Secures an Additional Rp358 Billion in Financing
JAKARTA — Electric motorbike maker ALVA, PT Electra Mobilitas Indonesia (EMI), has received an increase in its financing facility from Standard Chartered Indonesia to US$20 million, equivalent to Rp358.2 billion. The financing is intended to support the company’s operations, procurement of raw materials and components, and business development.
EMI is a subsidiary of PT Indika Energy Tbk and operates an electric motorbike manufacturing facility in Cikarang, West Java. Standard Chartered Indonesia CEO Donny Donosepoetro said the increased financing facility represented support for the growth of Indonesia’s electric motorbike industry.
“This increase in the financing facility reflects our commitment to continuing to support EMI’s growth and the development of Indonesia’s electric vehicle industry,” Donny said in a written statement on Tuesday (20 October 2026).
According to Donny, around 145 million motorbikes are in circulation in Indonesia. This large number points to the potential for electric motorbikes to develop as a transport option for the public and as part of the energy transition.
However, accelerating the adoption of electric motorbikes depends on more than public interest. Stronger domestic production capacity, the availability of raw materials and components, and access to financing are also needed to support the industry’s development.
Standard Chartered and EMI have worked together since 2022 through a sustainable trade-finance facility to procure raw materials and components used in ALVA electric motorbike production.
ALVA CEO Purbaja Pantja said the increased financing facility gave the company greater funding flexibility. The support would help ensure continuity in the procurement of raw materials and components while strengthening manufacturing capabilities and product development in Indonesia.
“This support helps us maintain continuity in procuring raw materials and components, while strengthening manufacturing capabilities and product development in Indonesia,” Purbaja said.
Standard Chartered said the financing was also part of its efforts to support the transition to a low-carbon economy through funding in the energy, transport and industrial sectors.