BANK DBS INDONESIA AND ADB JOIN FORCES TO PROVIDE US$15 MILLION GREEN FINANCING TO ACCELERATE THE ADOPTION OF ELECTRIC MOBILITY IN INDONESIA
Summary
This development financing not only strengthens our resolve but also equips us with the resources and partnerships needed to turn this vision into reality, " said, Co-CEO of TBS.Through Electrum, we aim to address key barriers that have hindered the adoption of electric vehicles, such as high upfront costs and concerns over range. Support from all of our partners not only validates our vision but also ensures this initiative delivers meaningful environmental, social, and gender impacts, benefiting all segments of society,revealed.As the largest automotive market in Southeast Asia, Indonesia has over 148 million motorcycles in operation, but only around 26,000 are electric. With a diverse business portfolio that includes coal mining and trading, power generation, plantations, electric vehicles, renewable energy, and waste management, TBS is dedicated to reducing its carbon footprint and promoting environmental sustainability from low-carbon growth. Operating across multiple sites in Singapore and Indonesia, including North Sulawesi, Gorontalo, East Kalimantan, Batam, Lampung and Central Java, TBS employs over 2,000 people who are integral to its mission of sustainable growth and innovation. Through continuous innovation and a commitment to responsible growth, TBS aims to create a positive impact on communities and contribute to a greener, more sustainable future.For more information about our green business journey, visit www.tbsenergi.com DBS is a leading financial services group in Asia with a presence in 19 markets.