Ekspansi Ion Mobility di Pasar Global
Industri kendaraan listrik di Indonesia makin bertumbuh bersama dengan penetrasi produk di masyarakat.
ION Mobility adalah salah satu startup yang fokus mengembangkan produk sepeda motor listrik/electric two‐wheel vehicles (E2w) di Indonesia. Mereka mulai membangun tim di Jakarta saat lockdown pandemi tahun 2020 lalu, dipimpin James Chan selaku founder dan CEO. Produk dan model bisnis yang dianggap solid membawa mereka menutup pendanaan awal USD6,8 juta dalam dua putaran di tahun 2021 dan 2022. Dilanjutkan pendanaan seri A senilai USD18,7 juta pada Februari 2023 dipimpin TVS Motor.
ION Mobility adalah salah satu startup yang fokus mengembangkan produk sepeda motor listrik/electric two‐wheel vehicles (E2w) di Indonesia. Mereka mulai membangun tim di Jakarta saat lockdown pandemi tahun 2020 lalu, dipimpin James Chan selaku founder dan CEO. Produk dan model bisnis yang dianggap solid membawa mereka menutup pendanaan awal USD6,8 juta dalam dua putaran di tahun 2021 dan 2022. Dilanjutkan pendanaan seri A senilai USD18,7 juta pada Februari 2023 dipimpin TVS Motor.
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TVTranscript
00:00 Thank you for joining us in Power Breakfast.
00:03 Now we're in the CreateUp segment.
00:05 In this CreateUp, we'll talk about the Ion Mobility expansion
00:09 in the global market and it's already connected
00:11 through a video conference with James Chan,
00:14 the founder and CEO of Ion Mobility.
00:16 Hello, James.
00:17 Hello, good morning.
00:19 Good morning, James.
00:20 How are you? Thank you very much for joining.
00:22 So this is your second time joining the program, I believe.
00:26 That's right. Thanks for having me back.
00:28 Yeah, yeah, yeah. Thank you for rejoining the program then.
00:31 Okay, from the early establishment to the present,
00:34 how has the Ion Mobility business developed so far, James?
00:39 It's been an interesting journey.
00:41 We started amidst the pandemic.
00:42 We raised capital, did development work during the pandemic
00:47 and out of pandemic.
00:48 It's been one plus years since we have launched the brand
00:52 in Indonesia and starting with our initial appearance
00:56 at IMOS 2022 and more recently at IMOS 2023.
01:01 And we are in the final stages of getting our bike ready,
01:05 the M1S, ready for deliveries to our pre-order customers
01:10 and 2024 is the year we have completed homologation.
01:15 We have started wrapping up our factory production
01:19 and our battery pack production operations
01:21 in our Karawang Timor factory
01:24 and our flagship store near Kondok Indah Mall is almost ready.
01:28 So this year is a really big year for us
01:31 as we look to make good on our promises
01:33 to our investors and our customers.
01:35 Yeah, so I believe things running really well so far
01:38 for ION Mobility.
01:39 So what does ION Mobility's current profitability look like?
01:46 I think as a startup that is undertaking everything in-house,
01:52 end-to-end, full stack, design, hardware and software,
01:55 it is premature at year four mark
01:58 to be discussing profitability as a company.
02:01 Having said that, the amount of profit that we can make per bike
02:06 is definitely there because we are able to undertake cost control
02:10 given that we have a very, very high DKDN local content level.
02:15 We are on track to achieving 70 plus percent DKDN,
02:18 which will be the highest among all E2Wheeler companies
02:21 in Indonesia.
02:23 And I hope that in the next three to five years,
02:26 we will be cashflow positive and EBITDA positive
02:29 as we scale into the other markets beyond Jakarta.
02:33 So, been running your business in Indonesia so far,
02:36 so what are the findings about the electric vehicle market
02:39 in Indonesia?
02:40 I think the Indonesian market is a very interesting market.
02:45 Motorcycling is more than just a transportation device.
02:49 It is also a socioeconomic way of life.
02:52 The market segments are obviously very obvious.
02:55 You have the 110cc, 125cc, 155cc and higher combustion
03:01 traditional models that have largely defined the market
03:05 for the longest time.
03:07 In the electric motorcycle space, we're not the quickest to market,
03:11 relatively speaking, but we are the most end-to-end and in-house.
03:16 We have had as a result the fortune of watching some of our fellow players,
03:21 Teman-Teman in Moto District, launching.
03:25 And you have the early wave of the earliest players like
03:29 the SIDs in VR.
03:31 And then you have the second wave, which we count ourselves as part of,
03:34 as well as a lot of other indoor players that White Label
03:37 are outsourced from China supply chain and do not have real in-house
03:41 capabilities and even other foreign brands coming in directly.
03:45 But I think there will be a third wave coming in the coming years
03:49 as the customers and investors realize the importance of automotive-grade
03:54 products that are undertaken by companies that deliver motorcycles
03:58 that have product market segment fit.
04:01 And I believe that the M1S and ION will be up there on that regards.
04:04 Customers, I think they're wary.
04:07 They want to know that the brand is here for the long haul.
04:10 They are very value-aware. It's not price-sensitive.
04:13 They are willing. I mean, Indonesia has the largest 155cc motorcycle
04:18 category in the world, comparatively speaking.
04:22 Much more so than even India.
04:24 So in that sense, the M1S is targeted very much at that category.
04:28 And I think subsidies are very, very helpful.
04:31 But the customers that we're really going after actually don't ask us
04:34 about the subsidy first. They care a lot more about the riding experience,
04:38 the overall product excellence.
04:40 And because we're doing this ourselves,
04:44 we are really set up to be running a marathon and not a sprint.
04:47 So they recognize that.
04:49 New players are coming in, but the potential is still huge
04:53 and ready to be exported more.
04:57 So right now we're taking a break.
04:59 We're going to continue the talking after the break and talking about
05:02 the end-to-end business or model business.
05:05 How does that actually benefit you as one of the players
05:09 in electric vehicle in Indonesia?
05:11 So we're going to talk about that later on.
05:13 And without further ado, we will be back.
05:15 Thank you for joining us.
05:17 I'm still talking with James Chan, founder and CEO of ION Mobility.
05:22 So talking about the thing that we've talked about before,
05:25 the break, about the end-to-end model business,
05:29 how far this actually will be benefited for you as a business player.
05:33 Because when we talk about electric vehicle,
05:36 in customer point of view, they're going to talk about,
05:39 they're going to ask or they have the concern about the battery,
05:43 longevity, the spare parts and everything.
05:46 So how does this actually, the end-to-end business model
05:49 will be benefiting for you and of course the customer?
05:52 At ION Mobility, we firmly believe in taking accountability of the outcomes.
06:00 And the only way to do that is if you don't get controlled by the supply chain,
06:04 but you are able to command and control the supply chain with your own custom designs.
06:08 That is why we have undertaken a more difficult and slower strategy
06:13 for the long haul by having our own in-house capabilities.
06:17 Some of you are familiar with design, hardware, software, production.
06:22 And by doing this, we believe that we can then be in a position to own the outcomes.
06:28 Our motorbike-backed vehicle has our own assembled battery pack.
06:32 We have homologated the pack to automotive standards.
06:36 And we are having among the longest, highest warranty program in place,
06:40 starting in five years, in order to reassure customers as a new brand.
06:45 The technology that has been, the design and engineering and technology that has gone in,
06:51 working closely with our Indonesian and other members of the team across our four offices,
06:56 puts us in a good position to more properly deliver the quality
07:01 and longevity that stands to the brand promise that we want to live up to.
07:06 Alright. So, talking about the products that have been promoted by ION Mobility,
07:12 a few products have been promoted, and I believe that your new product will be launched in the near future, in 2024.
07:19 So, one of the questions that will be asked by the people that are watching right now is,
07:26 will it be connected to government subsidy?
07:29 I have to always caveat as a businessman entrepreneur that it's foolish to build a business for subsidies.
07:37 But having said that, the subsidies is very appreciated.
07:40 Yes, we will qualify for a subsidy because we have the highest TKDN in town.
07:46 As I said earlier, we have 70 plus percent.
07:49 We are just awaiting the paperwork for that in order to begin deliveries.
07:53 And, yeah, looking forward to setting new heights in TKDN and localization with the support of our Indonesian supply chain.
08:00 Sure. So, talking about the electric vehicle ecosystem in Indonesia,
08:04 we also have to talk about the support of regulatory support in Indonesia.
08:11 As we know, government has this narrative, and of course government have the program related to that.
08:17 So, how do you see that as the booster of the electric vehicle industry in Indonesia,
08:23 especially coming from you as one of the players right now?
08:28 I think the government has done all the right things so far.
08:32 A big part of why we chose to focus and start in Indonesia is because we saw the early actions undertaken by the Indonesian government
08:40 to promote not just the battery supply chain economy industry,
08:45 but also start setting the pathway for removal of unnecessary taxes to encourage adoption of EV,
08:52 but then also to implement government demand drives themselves as an adopter of electric vehicles,
08:59 and then now more recently the 7 juta subsidy.
09:03 The confidence booster, the demand generator, and the role of the industry developer for government,
09:10 I think Indonesia is doing the best job in Southeast Asia.
09:13 You're seeing a lot of governments around Southeast Asia like Thailand and Malaysia play catch up now.
09:18 But for us, we've made our choice.
09:21 Okay, as I told you, we have a very limited time. I'll try to make the questions shorter.
09:27 So, how do you compare the Indonesian market and Southeast Asia market in general?
09:32 So, what are the targets that IN Mobility will achieve in the near future or in the long term?
09:37 Yeah, I think the Indonesian market remains the most interesting market for us.
09:42 We are looking at only expanding out of Indonesia in the next two to three years, not so soon.
09:49 What works in Indonesia tends to work in Thailand as well.
09:53 Vietnam is also interesting, but really I think Indonesia still tops the challenge for all motor district players in this part of the world.
10:01 In terms of having unique preferences and having a good willingness to pay for high performance bikes that are attractive.
10:11 We're keen to continue working on deepening our focus in Indonesia.
10:15 James Chan, founder and CEO of IN Mobility, thank you very much for joining CRETA program.
10:21 Wish you all the best. Thank you, James.
10:25 Thank you.
10:26 Bye-bye.
10:27 Before we end this Power Breakfast, we'll take a look at the latest updates on IHSG.
10:34 From the opening of C1 to now, as you can see on the television screen,
10:39 the IHSG sales are moving in the negative zone, at level 7227.736.
10:49 Meanwhile, Samsung is in the top gainers,
10:51 including Voru, Suri, Widi, Elite, M Sky, Mang, Cuan, MDKA, Temas, and MSJA.
10:58 Samsung is in the losers' zone,
11:01 including Cegas, Baby, Nice, Bank, Humi, GTRA, MPXL.
11:08 It's been 90 minutes, we're with you in Power Breakfast.
11:18 I hope this discussion can be a reference and a source of information for you.
11:22 Stay updated on IDX channel,
11:24 the trustworthy and comprehensive investment reference.
11:27 I'm Ki Adrian, representing Prisas Sombadatu and other employees.
11:31 Thank you, see you.
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