Indonesia digest: GoTo's Electrum strengthens EV business; East Ventures invests in D2C startup Evo

Photo: GoTo website

In Indonesia, GoTo is strengthening its electric vehicles business through Electrum while Jakarta-based East Ventures has made a seed investment in Singapore D2C company Evo.

GoTo buys EV assets from an affiliated company

Energi Kreasi Bangsa, also known as Electrum — a joint venture between GoTo and Indonesia-listed energy company TBS Energi Utama — has bought electric motorcycle assets, along with battery equipment and trademarks, from PT Rekan Anak Bangsa (RAB), which is also an affiliated company of GoTo, according to a disclosure filed by GoTo with the Indonesia Stock Exchange.

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