South Korean electric vehicle (EV) charging platform startup Charzin and smart energy provider Tide Company have established a three way joint venture with Indonesian payment IT company Ciwaru Transaksi Elektronik (Cetho) to build a smart system to manage the country’s growing EV charging network.

Charzin CEO Choi Young-seok said the new JV had developed an electric vehicle charging platform which he claimed would help strengthen the management of the exiting EV charging network which was said to consist of 150 rapid chargers and 1,000 standard charging stations at present.

Choi said: “We have established a JV to advance into Indonesia with a plan to dominate the market through cooperation with local companies”.

Charzin will operate the EV charging while Tide would handle operations relating to remote readings of local electric power suppliers’ meters.

The joint venture would also install vehicle to grid (V2G) charging devices allowing EVs to sell electricity back to the local electricity suppliers.

Cetho would operate a claimed “easy” payment system using smartphones and prepaid cards and would also introduce its EVZone blockchain based payment system.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Indonesia is an emerging market for EVs with 1,200 units sold in the first nine months of this year. Most of these were Hyundai Ioniq 5s produced at the automaker’s newly built plant in Cikarang, east of Jakarta.

The Indonesian government had been pushing hard to establish a local EV industry, touting the country’s abundance of raw materials such as nickel – a key component in lithium ion batteries, and local demand potential.