XPeng Acquires 90.1% Stake in Erajaya Group's Electric Vehicle Factory

PT Sinar Eka Selaras Tbk (ERAL), also known as Erajaya Active Lifestyle, has officially divested the majority stake in its electric vehicle manufacturing entity, PT Era Industri Otomotif (EIDO), to XPENG International Holding (Hong Kong) Limited. The transaction involves the transfer of 154,072 shares, representing a 90.1% ownership of EIDO, from the Company to XPENG. The transaction became effective on 13 May 2026.

In a disclosure to the Indonesia Stock Exchange (BEI) on Monday (18/5/2026), management explained that prior to the transaction, the Company held 99.99% of EIDO’s shares. Following the transaction, ERAL’s ownership has decreased to 9.9%, while XPENG has become the majority shareholder with a 90.1% stake. Before the share transfer to XPENG, one share owned by the Company’s President Commissioner, Budiarto Halim, was first transferred to the Company.

Management noted that this change in ownership only occurs at the manufacturing level through EIDO, which specialises in electric vehicle assembly in Indonesia. Nevertheless, the Company ensured that the transaction does not have any material impact on its operations or financial condition. The distribution, sales, and after-sales services for XPENG vehicles in Indonesia will continue to be managed by PT Era Inovasi Otomotif (EIVO) and PT Era Dealer Otomotif (EDOO), both of which remain under the Company’s umbrella.

“The Company’s business operations continue to run normally as usual,” management stated in the disclosure. ERAL views this step as part of strengthening a long-term strategic collaboration with XPENG to support the development of the electric vehicle ecosystem in Indonesia.