PT Electra Distribusi Indonesia (ALVA)

About PT Electra Distribusi Indonesia (ALVA)

PT Ilectra Motor Group (IMG), operating under the brand name ALVA, is an electric mobility company focused on developing a comprehensive electric vehicle ecosystem in Indonesia. A subsidiary of PT Indika Energy Tbk, ALVA was established in 2021 to accelerate the adoption of sustainable transportation. The company is a joint venture that includes Alpha JWC Ventures and Horizons Ventures as investors. Purbaja Pantja serves as the President Director of the company.

ALVA designs and manufactures electric motorcycles, or scooters, for the Indonesian market, which is the third-largest market for two-wheelers globally. The company operates a manufacturing facility in Cikarang, West Java, with an annual production capacity of 100,000 units. Its product lineup includes models such as the Alva One, Alva Cervo, and Alva One XP. These models are equipped with features like LED lighting, app connectivity for remote monitoring, and various riding modes. The Alva Cervo can reach a top speed of 103 km/h and offers a range of up to 125 km on a single charge. The company also provides a supporting ecosystem that includes charging stations and customer experience centers.

The business operates on a direct-to-consumer model, selling its electric motorcycles through its website and physical experience centers. Revenue is generated from the sale of these vehicles and spare parts. ALVA's motorcycles are locally assembled and have met the 40 percent Domestic Component Level (TKDN) requirement, making them eligible for government subsidies. The company has successfully raised significant capital to fund its expansion, including a Series B funding round of USD 50 million in August 2023, to accelerate product development and scale its network.