Daily Markup

Daily Markup #664: CARSOME supports strengthening Malaysia-Indonesia cooperation; joins forces with Electrum to accelerate EV adoption in Indonesia

January 18, 2023 · 2 min read
Credit: CARSOME

An integrated platform for inter-country cooperation

  • A familiar, 500-backed team joined the Malaysian Prime Minister’s recent working visit to Jakarta! During the trip, integrated car e-commerce platform CARSOME officially announced their interest to set up operations in Nusantara and to invest in digitalizing its automotive industry.
  • CARSOME also revealed that they are joining forces with Indonesia-based Electrum, a joint venture between TBS and Gojek, that has been tasked to transform the two-wheeled electric vehicle ecosystem in Indonesia as part of the nation’s commitment to its energy transition goals.
  • Under this partnership, the team will contribute to the future of Indonesian mobility by encouraging the adoption of sustainable mobility solutions.
  • On both milestones, Co-founder & Group CEO Eric Cheng said, “CARSOME thanks the Malaysian Government for the opportunity to be amongst front-runners to invest in the growth of Indonesia’s future capital city, Nusantara. We’re well-placed to contribute towards strengthening Nusantara’s automotive ecosystem through digitalisation and to drive talent development and job creation with the establishment of new centers in the capital.”
  • “Our partnership with Electrum will be game-changing. Together, we are exploring options to encourage two-wheeler EV adoption as demand grows for more economical and sustainable mobility solutions to power the nation’s economic growth. As the leading car e-commerce platform with significant operations in Indonesia and the South East Asia region, we will be able to complement Electrum’s growth aspirations to drive EV adoption in Indonesia,” he added.
  • According to Eric, this move signals a new era in CARSOME’s journey as their plans mature to support the anticipated growth in EV adoption across the region.
  • The company has been present in Indonesia since 2017 and currently operates 42 retail centers. The team launched the country’s first CARSOME Certified Lab in 2022 — the largest across its four markets of operation. In the same year, CARSOME Academy, the company’s automotive technical institute, was launched in Jakarta to further increase skilled workforce in the automotive industry.
  • We’re excited for what’s next for CARSOME in Indonesia!
  • Read the full announcement here.
Daily
Tags:
0
Share
• • • KEEP READING

Daily Markup

  • Daily Markup is brought to you by 500 Southeast Asia & 500 Global

  • This website is updated as of August 3, 2022. All content herein is intended solely for general informational or educational purposes only. 500 Startups Management Company, L.L.C. and its affiliates (collectively “500 Startups”) makes no representation as to the accuracy or information in this post and while reasonable steps have been taken to ensure that the information herein is accurate and up-to-date, no liability can be accepted for any error or omissions. All third party links in this post have not been independently verified by 500 Startups and the inclusion of such links should not be interpreted as an endorsement or confirmation of the content within. Information about portfolio companies’ markets, competitors, performance, and fundraising has been provided by those companies’ founders and has not been independently verified. Under no circumstances should any content in this post be construed as investment, legal, tax or accounting advice by 500 Startups, or an offer to provide any investment advisory service with regard to securities by 500 Startups. No content or information in this post should be construed as an offer to sell or solicitation of interest to purchase any securities advised by 500 Startups. Prospective investors considering an investment into any 500 Startups fund should not consider or construe this content as fund marketing material. The views expressed herein are as at the date of this post and are subject to change without notice. One or more 500 Startups fund may have a financial interest in one or more of the companies discussed

    All users of this website should note these important Terms of Use governing the use of this website.

  • Copyright © 2022 500 Global | All Rights Reserved

  • Privacy Policy
    Terms of Use
    Code of Conduct