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Asia’s Charged Electric Motorcycle Receives IDR 600 Billion Fund Support

Electric motorbike company Charged Asia has received funding of up to USD 40 million or the equivalent of IDR 600 billion from Geo Energy. These funds are to accelerate energy and sustainable mobility, and are planned to be disbursed in several stages through convertible loans and share placements.

Charged Asia will use this funding to boost its growth across Indonesia and Southeast Asia. With these funds they will also develop class-leading products and services to lead the energy transition in the electric vehicle sector .

This information was conveyed directly by Charged Asia Chief Executive Officer Joel Chang. He also highlighted the ongoing problem of global warming.

“Our planet is warming, and our society is being exposed to pollution. There are 7 million people affected by respiratory diseases every year due to air pollution and carbon emissions from transportation are the main factors in this worrying statistic,” he said in his official statement, Friday, August 1 2023.

Joel Chang added, Geo Energy Resources has made a strong commitment to the future growth of Charged Asia which has a future focus on the energy transition.

“Therefore, we gratefully welcome Geo Energy in our mission to improve the quality of life and environment in this region by leading the energy transition through the adoption of sustainable mobility solutions,” he explained.

Meanwhile. Charles Antonny Melati, Executive Chairman & Chief Executive Officer of Geo Energy, said that his party understands that pollution and environmental health are increasingly becoming a concern in Indonesia, especially in the Jakarta and Jabodetabek areas.

“After careful consideration and analysis, we decided to expand the business through investment in Charged Asia. Charged Asia is an electric vehicle business that has brought more than 1,000 electric motorbikes on the road,” said Charles Antonny.

“This investment will increase the Group’s financial resilience with additional income streams and contribute to a greener and better living environment for our future generations,” he concluded.

Source : Tempo.co