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Africa’s largest EV Maker, Agilitee, has expanded its operations to the world’ second largest motorcycle market, Indonesia.
A week ago, Agilitee signed its partnership agreement with Indonesia’s PT Valencia Utama Group, a deal that will see Agilitee through its Asian subsidiary company known as Agilitee Asia Ltd own a 70% controlling interest in PT Agilitee Indonesia and PT Valencia Utama Group owning the remaining 30%.
A new board of directors of PT Agilitee Indonesia will be constituted, whereas the Agilitee Asia Ltd CEO will chair the Indonesian board, and BT Valencia Utama Group will appoint the vice chairman of the board. Agilitee Asia Ltd will further appoint three more non-executive directors and and PT Valencia Utama Group will also appoint another two non-executive directors. The board will consist of five non-executive directors and two executive directors, taking the total number of directors to seven board members.
Agilitee’s entry into the Indonesian market is a great boost for Agilitee’s revenue and profitability. Based on the research conducted in 2022, Indonesia had over 125 million scooters on its roads. This is what Agilitee will be capitalizing on, converting these into electric scooters, and if Agilitee can convert just 1% of the 125 million scooters. The EV Giant will be able to generate at least $7 billion in revenue. This alone shows the great potential Indonesia has for Agilitee.
Founder and CEO of Agilitee, Dr. Mandla Lamba stated that initially, the focus was on Africa. However, interest from overseas companies that wanted to bring Agilitee into their own countries initiated the grwoth.
Such was the case when PT Valencia approached us for a partnership in Indonesia. We just couldn’t resist. Indonesia is the second largest motorcycle market in the world, with more scooters on their roads being two times the entire population of South Africa, over 125 million scooters on the road where have you ever seen that before, said Lamba.
Unlike in most parts of Africa, we don’t have to sell the idea of using scooters but rather why they should use electric ones. We are now focused on converting a fraction of those 125 million petrol scooters into electric scooters by Agilitee. We are grateful to God for an opportunity to address climate change, create jobs, and increase shareholder value in such a large market. He concluded, “.
Beyond meeting the escalating global demand for electric vehicles, this collaboration positions Indonesia as a significant player in the sustainable transportation sector. It also underscores a shared commitment to advancing technology and fostering environmental consciousness across Indonesia.
Our collective excitement knows no bounds as we introduce Agilitee EV to the Indonesian market and commence local manufacturing for both domestic consumption and export purposes.
Under the astute leadership of Dr. Mandla, and fueled by unwavering teamwork, we are poised to elevate Agilitee to a position of global prominence. Stated Ms Chin Kuei Feng, CEO of PT Valencia Utama Group.
