IBC Cancels Acquisition of German EV Factory, Ahok Once Said: Why Not Invite Wuling?

Bahlil regretted that StreetScooter was finally acquired by a state-owned company from Singapore.

REPUBLIKA.CO.ID, by Meiliza Laveda, Retno Wulandari, Intan Pratiwi

The Minister of Investment or the Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia regretted the cancellation of the acquisition by Indonesia Battery Corporation (IBC) of an electric vehicle (EV) company from Germany, StreetScooter. According to Bahlil, the subsidiary of Deutsche Post DHL Group has now been acquired by a Singaporean SOE.

“Singapore SOEs buy that’s it and that option is no longer given to us, dear,” said Bahlil, Saturday (8/1).

Bahlil regrets the cancellation of the acquisition by IBC for appraising the company electric car Germany in question is a good company. Bahlil also admitted that he was disappointed because of the acquisition plan StreetScooter accused of having potential mark-up or budget overruns.

“He said this is a loss investment, this is a loss lah, what lah. Just don’t work yet, what do you want to be suspicious about,” said Bahlil.

Bahlil confirmed, the news of the mode mark-up or price inflation in IBC’s plan to acquire the German electric car company. According to him, the process has been very transparent.

“Some say this happened mark-up even though the evidence is transparent about buying it,” he added.

Previously, the President Commissioner of PT Pertamina (Persero) Basuki Tjahaja Purnama, alias Ahok, criticized IBC’s plan to acquire an electric car company from Germany. Ahok believes that IBC’s business will be better if it cooperates with a company from China, namely Wuling.

“I asked why not invite Wuling to cooperate that already exists in Karawang? Invite Hyundai to cooperate? Yes VND. Then you have to use Krakatau Steel plates, that makes a good plate,” Ahok said some time ago on his personal Youtube account.

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