Indonesian Billionaire Brothers' Djarum Group Unveils Electric SUVs Amid Intense Competition
Polytron —a home appliances maker controlled by billionaire brothers R. Budi and Michael Hartono 's Djarum Group—is entering the automotive industry with the introduction of an Indonesian made electric vehicle.
Developed in partnership Chinese EV maker Skyworth Automobile, Polytron is selling the five-seater sports utility vehicles G3 and G3+ at 299 million rupiah ($18,166) to 459 million rupiah each, with options for either a fixed battery or a replaceable one that is rented on a monthly basis. The partners plan to produce about 10,000 cars in the next three years.
Polytron's entry into the competitive automotive industry comes amid rising demand for EVs in Indonesia. Despite a slowdown in overall car sales in the country last year, EV sales increased 152% to 43,000 units, according to a recent report by brokerage Verdhana Sekuritas Indonesia.
Chinese EV makers have been expanding aggressively in Indonesia to tap on the growing domestic demand. BYD, the world's largest EV maker by unit sales, launched its first car in the country early last year and is now building a $1 billion factory in Subang, about 100 km southeast of Jakarta. In February, Xpeng—founded by Chinese billionaire He Xiaopeng—also entered the market, backed by local electronics distributor Erajaya Group.
Polytron, which has been selling electric motor bikes since 2022, hopes to hold its own against foreign car manufacturers. Its SUVs can travel across a distance of 402 kilometers on a fully-charged battery and come with features such as a large sunroof, 20-inch wheels and a 12.8-inch touchscreen entertainment system.
"With a mission to improve the experience of Indonesian families, approaching the celebration of our 50-year journey we want to ensure that daily mobility innovation is not only about technology, but also about accessibility,' Hariono, CEO of Polytron said in a statement.
Founded in 1975, Polytron currently operates three manufacturing plants in Central Java, producing appliances such as refrigerators, air conditioners, and televisions. The company, which is part of the Hartono brothers' Djarum Group, employs over 10,000 people and has 19 offices and 61 service centers across Indonesia.
With a combined net worth of $50.3 billion, Budi and Michael Hartono topped the list of Indonesia's 50 Richest that was published in December. Their interests span across banking, cigarettes and prime real estate in Jakarta. They also hold a stake in Global Digital Niaga, the parent of e-commerce firm Blibli.
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