The Asian Development Bank (ADB) has extended a USD10 million loan to PT TBS Energi Utama Tbk (TBS) to help enhance electric motorcycle adoption in Indonesia. The loan is split into USD5 million from ADB and another USD5 million from the Climate Finance Partnership of Australia. TBS will use this funding to support Electrum, a company focused on electric motorcycles, battery-swapping stations, and charging infrastructure. The initiative is expected to reduce annual greenhouse gas emissions by 123,000 tons.
The project is part of ADB’s efforts to improve the reliability of electric motorcycles and expand sustainable transport options in Indonesia. The country has around 148 million two-wheelers, but only 26,000 of them are electric, highlighting the potential for growth in this sector.