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    Astra & GOJEK Formed a Joint Venture and Add Investment of US $ 100 million

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    BANDUNG-PT Astra International Tbk and GOJEK today announced an agreement to establish a joint venture (JV) to encourage the development of a four-wheel ride hailing business that is expected to help increase the availability of online transportation services door to door for the community.

    On this occasion, Astra also announced its participation in the first phase of GOJEK F series funding with an investment of US $ 100 million. With the additional investment, Astra's total investment in GOJEK has now reached US $ 250 million.

    "The establishment of a joint venture and Astra's participation in series F funding shows our trust in GOJEK as well as a tangible manifestation of our collaboration exploration to create synergy with Astra's automotive business. We hope this collaboration can help the wider community enter the formal economic sector, so that it can improve the welfare of the community and have a positive impact on Indonesia's economic growth. "This is in line with Astra's aspirations to prosper with the nation," said PT Astra International Tbk President Director Prijono Sugiarto through his press release on Monday (03/04/2019).

    At present Indonesia is recorded as having the fastest digital economic growth rate in Southeast Asia. With an annual compound growth rate (CAGR) of 49% in the 2015-2018 period, Indonesia's digital economy sector is expected to reach US $ 100 billion in 2025 from US $ 27 billion in 2018.

    The strategic partnership that exists between Astra and GOJEK is expected to maximize Indonesia's potential to continue to be a forerunner of the digital economy that is at the forefront of the Southeast Asia region.

    GOJEK Chief Executive Officer and Founder Nadiem Makarim said the potential of the digital economy in Southeast Asia, especially Indonesia, must be maximized by business people by combining strengths in each industry.

    "The combination of Astra's strength in the automotive sector and GOJEK in the field of technology through this collaboration is expected to open up more opportunities for people to have a source of income, so as to be able to improve welfare," he said. jo

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