UNTD invests Rp400 billion to develop electric vehicle factory
PT Terang Dunia Internusa (UNTD) is preparing a total investment of around Rp400 billion, allocated for purchasing land in the Curug area of Tangerang, Banten, as part of developing an electric vehicle factory.
UNTD President Director Stephen Mulyadi in Tangerang on Tuesday said that the current issue of rising fuel prices is a key catalyst for the growth of electric vehicles in Indonesia.
“We see a clear ‘shift’ in society, and UNTD wants to be at the forefront in addressing this need through greater and more integrated production capacity readiness,” Stephen said after the Shareholders’ General Meeting (AGM) held at United Grand Hall Alam Sutera, Tangerang, on Tuesday.
He also said that amid rising fuel price issues, the company sees an acceleration in societal behaviour changes towards more fuel-efficient and environmentally friendly vehicles.
This momentum is expected to drive a surge in demand for electric vehicles starting from the second quarter of 2026.
Therefore, the company reaffirms its commitment to capturing this opportunity through aggressive expansion steps in the production sector.
The total investment prepared will be used for land purchase and factory facilities worth Rp250 billion, as well as factory development worth Rp150 billion. The funding for this expansion comes from third parties through banking or strategic investors.
Currently, UNTD’s production capacity stands at 50,000 units per month for bicycles and electric bicycles, with a composition of 40,000 bicycle units and 10,000 electric bicycle units. Meanwhile, electric motorcycle production capacity reaches 5,000 units per month.
In line with the expansion plans, the company targets a significant increase in production capacity. Bicycle capacity will remain at 40,000 units per month, while electric bicycles will be increased to 40,000 units per month and electric motorcycles will jump to 20,000 units per month.
UNTD Director Andrew Mulyadi added that the second quarter of 2026 projection will be the starting point for more significant demand increases.
Therefore, this expansion is not just about increasing capacity, but also a long-term strategy to strengthen UNTD’s position in the national electric vehicle industry.
“Support from banking and investors is an important foundation in realising this plan. With a measured expansion strategy and increasingly strong market momentum, UNTD is optimistic about accelerating business growth while promoting wider adoption of electric vehicles in Indonesia,” he said.