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Horizons Ventures leads IMG's Series B investment round along with HH-CTBC Partnership, L.P. (Foxconn Co-GP Fund) and Indika Energy as the largest investors

PT Ilectra Motor Group (IMG or ALVA) with its brand ALVA has finalized its Series B fund raise, totalling up to USD50 million. The round which included all previous investors, is led by Horizons Ventures. New investors include HH-CTBC Partnership, L.P. (Foxconn Co-GP Fund), which together with Horizon Ventures and Indika Energy, form the largest investors of IMG to date. New investors other than Foxconn Co-GP fund include Brama One Ventures. Proceeds from the Series B funding will be used. ....

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Hon Hai plans mass production of affordable EVs

Hon Hai plans mass production of affordable EVs
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Hon Hai, Indika Energy form EV joint venture in Indonesia

Hon Hai, Indika Energy form EV joint venture in Indonesia
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Foxconn, Indika Energy form Indonesian JV for EVs and batteries

PT Indika Energy Tbk. (Indika Energy) through its subsidiary, PT Mitra Motor Group (MMG), and an affiliate of Hon Hai Technology Group (Foxconn), Foxteq Singapore Pte. Ltd., are establishing a joint venture company to manufacture commercial electric vehicles and electric batteries, as well as providing management consultation service. Seeing the. ....

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