Tuesday, March 5, 2019

Astra Establishes JV with GOJEK and Invests Additional US$100 Million


PT Astra International Tbk and GOJEK announced an agreement to establish a joint venture that will enable more drivers to join the four-wheel ride-hailing sector and participate in Indonesia’s rapidly growing digital economy. Astra also announced an investment of US$ 100 million in the first closing of GOJEK’s Series F fundraise. Astra made its first investment in GOJEK through the Series E fundraise in 2018 and this additional investment brings Astra's total investment in GOJEK to US$ 250 million.

Chief Executive Officer and Founder of GOJEK Nadiem Makarim, said, “Industry players must join forces to maximise the great potential of the Southeast Asian digital economy, especially in Indonesia. The combination of Astra's strength in the automotive sector and GOJEK’s leading technology will open up more opportunities for people to grow their incomes and improve their welfare.”

Indonesia’s internet economy is the largest and fastest growing in the region. Growing at a compound annual growth rate (CAGR) of 49% from 2015-2018, it is projected to reach US$ 100 billion by 2025 from US$ 27 billion in 2018. The strategic partnership between Astra and GOJEK will maximize Indonesia's potential to continue to be at the forefront of Southeast Asia’s digital transformation.

President Director of PT Astra International Tbk Prijono Sugiarto said, "The establishment of this joint venture and Astra's participation in GOJEK’s Series F fundraise demonstrate our continued confidence in GOJEK and is a tangible manifestation of our collaboration to explore the synergies between GOJEK’s technology and Astra's automotive business. We hope this collaboration can help more people generate income, as this will improve their welfare and have a positive impact on Indonesia's economic growth. This is in line with Astra's aim to prosper with the nation.”

Launched in January 2015, GOJEK is now a major player in Southeast Asia for digital and mobile consumption. GOJEK has evolved into a super-app, which acts as a transactional ecosystem connecting millions of customers on its platform to millions of drivers, merchants, and service providers.

Creation of a fleet of several thousand cars

The joint venture partnership between Astra and GOJEK will operate a fleet of several thousand cars, pre-installed with Astra’s fleet management system (FMS) and supported by ride-hailing technology in the GOJEK app, specifically for GO-CAR. This company will provide opportunities for partners to provide online door-to-door transportation services with excellent quality to customers while at the same time improving their income through GO-CAR services.

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