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Agilitee will be looking to generate $7billion in revenues with the entry into the Indonesian motorbike market.
This is following a new collaboration with Indonesia’s PT Valencia Utama Group.
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.
Founder and CEO of Agilitee, Dr. Mandla Lamba lauded the potential of the partnership saying it would be 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 percent 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,” said Lamba.
In the plan, Agilitee tapped Indonesia’s PT Valencia Utama Group in a deal that will see Agilitee through its Asian subsidiary company known as Agilitee Asia Ltd own a 70 percent controlling interest in PT Agilitee Indonesia. The PT Valencia Utama Group will remain with 30 percent.
The expansion will lead to a new board of directors of PT Agilitee Indonesia being 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.
However, interest from overseas companies that wanted to bring Agilitee into their own countries initiated the growth.
Such was the case when PT Valencia approached us for a partnership in Indonesia. We just couldn’t resist.
In contrast to many African regions where promoting the use of scooters is necessary, our focus is on advocating for electric scooters over petrol ones.
We aim to convert a portion of the 125 million petrol scooters into electric models through Agilitee.
We are thankful for the opportunity to address climate change, generate employment, and enhance shareholder value in this expansive market.
This collaboration not only meets the growing global demand for electric vehicles but also establishes Indonesia as a key player in sustainable transportation. It reflects a mutual dedication to advancing technology and fostering environmental awareness throughout Indonesia.
We are immensely excited to introduce Agilitee EV to the Indonesian market and begin local manufacturing for both domestic and international markets. Led by Dr. Mandla’s exceptional leadership and fueled by strong teamwork, we are poised to elevate Agilitee to a global forefront. Ms. Chin Kuei Feng, CEO of PT Valencia Utama Group, expressed these sentiments.