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Indonesia's Indika Energy readies 'affordable' e-motorbike venture

President of coal miner also in talks with Foxconn for electric buses, trucks

Indika Energy President Arsjad Rasjid says making the Alva electric motorbike brand affordable is essential for attracting consumers. (Source photo by screenshot from ALVA auto's YouTube page) 

TOKYO -- Affordability will be key to Indonesian coal miner Indika Energy's foray into electric vehicles, company President Arsjad Rasjid said, as it races to diversify beyond its core business.

Indika set up Ilectra Motor Group, a subsidiary dedicated to electric motorbikes, and raised $15 million in initial funding in May from Hong Kong billionaire Li Ka-shing's Horizons Ventures, local venture capital company Alpha JWC Ventures as well as Indika's own capital. According to a spokesperson for Rasjid, Ilectra plans to start selling its Alva electric bike on Aug. 11.

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