TEMPO.CO, Solo - State-owned oil and gas firm Pertamina is investing Rp20 billion for the development of electric vehicles in two state universities. The campuses, Sebelas Maret University (UNS) and 10 November Surabaya Institute of Technology (ITS), will spend most of the investment on developing lithium ion batteries.
"Pertamina supports the development of renewable energies," Gigih Prakoso, the company's director of investment planning and risk management, said at UNS on Friday, July 13.
Gigih added that Pertamina had spent up to Rp11 billion to develop lithium ion batteries production at UNS. The company is also working with ITS to build electric motorbikes with an investment of Rp9 billion.
"Our total investment has reached Rp20 billion," he remarked.
The investment to develop lithium batteries is quite hefty as the biggest cost in building electric motorbikes lies in the batteries.
"It accounts for 60 percent of an electric motorcycle's entire value," Gigih said.
The lithium battery production at UNS is a first for Indonesia. To date, the country has been importing them.