BCA Provides IDR 250 Billion Loan to VKTR for Working Capital Increase

JAKARTA, KOMPAS.com – Bakrie & Brothers’ subsidiary, PT VKTR Teknologi Mobilitas Tbk (VKTR) obtained a loan or credit facility worth IDR 250 billion from PT Bank Central Asia Tbk (BCA). The purpose of this funding is to increase VKTR’s working capital capacity.

The signing of this credit facility agreement involved the President Director & CEO of VKTR, Gilarsi W. Setijono, Executive VP Group Corporate Banking BCA, Raymond Tanuwibowo, and VP Corporate Branch BCA, Liliani Kurniawan, in Jakarta on Monday, 14 August 2023.

“This collaboration is to realize transportation electrification efforts in Indonesia. This is a concrete manifestation of BCA’s commitment to contributing to achieving Indonesia’s Net Zero Emissions in 2060,” said Gilarsi in a press release, Monday (14/8/2023).

Also read: VKTR Wants to Build an Electric Bus and Truck Assembly Factory in Magelang

Gilarsi explained, more and more business institutions are interested in switching to the use of electric vehicles (EV) for various commercial purposes and employee transportation. Later the funds obtained will be used to meet the demand for EVs in the country.

Currently, VKTR has started assembling commercial electric vehicles in Magelang, but its capacity is still limited. With additional working capital support from BCA, VKTR plans to expand its assembly and sales capacities.

Also read: Take a Peek at the Bus and Electric Truck Business Model of the Bakrie Group’s Subsidiary, VKTR

This credit facility consists of two types, namely a local credit facility with a maximum limit of IDR 15 billion, and a Multi Facility Credit facility (KMF) with a maximum limit of IDR 235 billion. Both have a term of one year.

For information, PT VKTR Teknologi Mobilitas Tbk is a company that focuses on developing the electric vehicle ecosystem for the heavy mobility segment in Indonesia. In collaboration with BYD Auto, VKTR is developing an assembly facility through a partnership with Tri Sakti to manufacture electric buses and electric trucks in Indonesia.

Also read: SOE Deputy Minister Says Waskita Will Become Hutama Karya’s Subsidiary in 2024

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2023-08-14 13:10:00
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