Jakarta. Standard Chartered Indonesia has increased its financing facility for PT Electra Mobilitas Indonesia (EMI), the manufacturer of ALVA electric motorcycles and a subsidiary of PT Indika Energy Tbk, to $20 million (Rp 359.7 billion). EMI operates a manufacturing facility in Cikarang, West Java.

The expanded facility will give EMI greater financial flexibility to support its operations and business development while contributing to Indonesia’s electric vehicle ecosystem. The move aligns with the government’s efforts to accelerate electric vehicle adoption, particularly electric motorcycles, and strengthen the domestic electric vehicle manufacturing industry.

The partnership between Standard Chartered and EMI began in 2022 with a sustainable trade finance facility to support the procurement of raw materials and components for ALVA electric motorcycles. The increase to $20 million reinforces Standard Chartered’s support for EMI’s business development and Indonesia’s electric vehicle supply chain.

Standard Chartered’s continued support for EMI also reflects its commitment to Indika Energy’s broader business transition, including the expansion of its electric vehicle business.

Donny Donosepoetro OBE, CEO of Standard Chartered Indonesia, said the increased financing facility demonstrated the bank’s commitment to supporting EMI’s growth and the development of Indonesia’s electric vehicle industry.

“Motorcycles are one of the most widely used modes of transportation in Indonesia, with approximately 145 million units currently in circulation. Therefore, accelerating the adoption of electric motorcycles holds significant potential to support a sustainable energy transition,” he said.

The success of this transition, he added, depends not only on increasing the number of electric vehicles on the road but also on building a strong industrial ecosystem, including domestic production capacity, supply chains and access to financing.

“The continuation of this partnership with EMI reflects Standard Chartered’s support for local companies that play a role in developing this ecosystem. It also supports the government’s efforts to accelerate electric vehicle adoption and strengthen the competitiveness of the domestic industry,” Donny said.

ALVA Chief Executive Officer Purbaja Pantja said the expanded financing facility would provide greater flexibility to support the company’s operations and business growth.

“This support helps us ensure the continuity of raw material and component procurement as we strengthen our manufacturing capabilities and product development in Indonesia. We hope the continuation of this partnership will support ALVA’s sustainable growth while strengthening the domestic electric motorcycle supply chain,” he said.

The financing is also part of Standard Chartered’s efforts to support the transition to a low-carbon economy by providing financing solutions to companies across various sectors, including energy, transportation and manufacturing.

Globally, Standard Chartered mobilized $157 billion in sustainable financing from January 2021 through September 2025, as part of its target to mobilize $300 billion by 2030.

In Indonesia, Standard Chartered continues to leverage its international network and financing capabilities to support energy transition initiatives and the development of low-carbon industries. Through partnerships with companies such as EMI, the bank aims to support business growth while creating investment opportunities aligned with Indonesia’s sustainable development needs.

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