Astra Establishes Joint Venture With GOJEK And Invests An Additional US$ 100 Million

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Astra_establishes-joint-venture-with-GOJEK-and-invests-an-additional-US-100-million Astra Establishes Joint Venture With GOJEK And Invests An Additional US$ 100 MillionBangalore, March 5, 2019 – 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.

About GOJEK GROUP

GOJEK Group is Southeast Asia’s leading on-demand multi-service platform technology group, founded on the principle of using technology to improve the lives of users within its ecosystem.

GOJEK processed more than US$9 billion annualized gross transaction value (GTV) across all markets where it operates in 2018, making it the largest consumer transactional technology group on a GTV-basis across Southeast Asia.

The GOJEK app was first launched in January 2015 for consumers in Indonesia and has since evolved into the largest on-demand multi-service platform in Southeast Asia, providing access to a wide range of services from transportation and payments to food delivery, logistics, and many other on-demand services. GOJEK now operates in 204 cities and regencies in five Southeast Asian countries.

As of December 2018, GOJEK and its ecosystem of apps have been downloaded by more than 130 million consumers across the region, with more than 2 million driver partners registered, up to 400,000 merchant partners, and over 60,000 service providers, with an annualized transaction volume of 2 billion by end of 2018.

As GOJEK continues on its mission to create a positive impact for its ecosystem of users, driver partners, merchant partners, and business partners, its founder was recently named as one of The Bloomberg 50 in 2018 for making such impact.

The GOJEK app is available for iOS and Android.

About Astra

PT Astra International Tbk was established in 1957 in Jakarta as a general trading company under the name Astra International Inc. In 1990, for the purpose of the company’s initial public offering (IPO), the name of the company changed to PT Astra International Tbk, followed by listing its shares on the Indonesia Stock Exchange under the ticker code ASII.