This target aligns with the optimistic projections of the Indonesian Automotive Manufacturers Association (Gaikindo), which has set a wholesale vehicle sales target of 1.1 million units in 2024.
This positive outlook is also accompanied by projections for increased demand for electric vehicles (EVs) this year. This was evident at the Indonesia International Motor Show (IIMS) 2024, which featured 53 vehicle brands from Japan, South Korea, China, Germany, and others.
Irianto Santoso, President Director of Dharma Polimetal, stated that the growth trend in automotive sales will lead to increased demand for automotive components produced by DRMA.
"This is certainly supported by the increasingly enthusiastic development of the electric vehicle industry, which undoubtedly has a positive influence on the company's revenue prospects for this year," said Irianto in his official statement on Tuesday (27/2).
The Dharma Group has anticipated the potential for significant increases in electric vehicle (EV) sales by expanding production into the electric vehicle component segment, becoming a supplier for battery packs, battery management systems, battery swaps, and partnering with the electric motorcycle industry in Indonesia.
To this end, DRMA is currently developing supporting infrastructure for electric vehicles, including charging stations for both fast charging and slow charging.
Additionally, DRMA is preparing Brushless Direct Current (BLDC) motors to be used in conversion electric motorcycles produced by the Dharma Group or other parties, supporting the localization of BLDC needs in Indonesia.
To realize its plans in 2024 and to prepare for future business growth plans, DRMA has allocated approximately Rp 300 billion for capital expenditure (capex).