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VKTR Gets Order to Supply Electric Trucks for IKN from an SOE
WINDONESIA August 2, 2024
VKTR's electric bus armada. (Antara/VKTR).
VKTR Teknologi Mobilitas (VKTR) received a number of product orders from a state-owned company to supply electric trucks and compactors for the Nusantara Capital City (IKN).
"We are announcing that we will supply the first electric truck/compactor in IKN. This is a new track record for VKTR in gaining client trust to expand to state-owned enterprises (SOEs) after previously [serving] the private sector," VKTR President Director Gilarsi W. Setijono stated in Jakarta on July 26, 2024.
In addition, the company has also added an order portfolio for other products outside of buses and trucks, such as forklifts and transporters. Gilarsi also conveyed VKTR's consolidated finances for the first half of 2024 (1H2024), with the firm booking Rp409 billion of net income during the period.
Although there was a contraction in sales, especially in the electric vehicle (EV) and spare parts manufacturing segments, VKTR's performance is in line with the national vehicle sales trend. National vehicle sales decreased by 19 percent year-on-year (yoy) based on Association of Indonesian Automotive Manufacturers (Gaikindo) data, with sales in the commercial vehicle segment down by 26 percent yoy.
The decline was influenced by external factors such as the political transition period and uncertain global macroeconomic conditions that greatly affected financial and banking conditions, but VKTR remains optimistic.
VKTR recorded a 3 percent increase in total assets to Rp1.72 trillion in 1H2024, demonstrating the company's commitment to developing its business. Although there was an 8 percent rise in liabilities to Rp563 billion due to an increase in trade debt, the company remains focused on sustainable growth.
As a strategic step, VKTR has started construction of the first Completely Knock-Down (CKD) commercial EV facility in Indonesia through its subsidiary VKTS in Magelang Regency, Central Java Province.
The company is currently still in the process of building and utility construction, and it is targeted to be completed in August 2024. Machinery and equipment installation will begin in September 2024 and is targeted to be completed in October 2024. VKTS will be ready for line production for commissioning between October to November 2024. Currently, the progress of the VKTS facility construction is still on target.
In terms of innovation, VKTR has also successfully completed the first prototype of its light-duty electric compactor, which is targeted to be launched at the end of August 2024. This success is a strong foundation for expanding the company's expansion, especially in the business-to-business (B2B) segment with the sale of electric trucks. This product will be a new track record for VKTR in expanding its previous client portfolio from private companies to BUMN today.
"Currently, the company is focused on meeting client needs for EVs, especially in the heavy and light duty truck segments. Therefore, fulfilling the manufacture of prototype products for client trials is one of the things we maximize. With the completion of the construction of the VKTS facility, God willing, it will greatly affect the speed of the company's product procurement," he said.
Source: www.antaranews.com
