TBS Integrated Electric Motorcycles Ecosystem Project (ADB-58182-001)

Countries
  • Indonesia
Geographic location where the impacts of the investment may be experienced.
Specific Location
Jakarta
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
Financial Institutions
  • Asian Development Bank (ADB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
B
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 3, 2024
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
PT TBS Energi Utama Tbk
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Transport
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Project Cost (USD)
$ 10.00 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Bank Documents
Media Documents
Primary Source

Original disclosure @ ADB website

Updated in EWS Mar 29, 2025

Disclosed by Bank Oct 30, 2024

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

According to the Bank’s website, the proposed transaction, involving an ADB OCR loan of $5 million and a concessional loan of up to $5 million from the Australian Climate Finance Partnership, will support TBS' investment in PT Energi Kreasi Bersama's integrated electric motorcycle (e-motorcycle) ecosystem. This includes (i) procurement of e-motorcycles and batteries, and (ii) installation of battery swapping stations infrastructure in Indonesia.

Early Warning System Project Analysis
For a project with severe or irreversible impacts to local community and natural resources, the Early Warning System Team may conduct a thorough analysis regarding its potential impacts to human and environmental rights.

Based on ERM’s review, Electrum’s operations (the Project) are categorized as Category B for environmental risks and impacts, and Category C for involuntary resettlement and indigenous peoples risks, in line with ADB’s Safeguard Policy Statement (SPS, 2009). Site observations revealed various types of waste generated and stored across the workshop, including used packaging, spare parts, electrical components, and hazardous materials such as used oil and e-waste. Occupational health and safety measures are critical for technicians working on e motorcycle, BSS, and e-battery maintenance. According to ADB’s SPS, Category B projects have site-specific, generally reversible environmental impacts with readily implementable mitigation measures, unlike Category A projects. The Category C classification for involuntary resettlement and indigenous peoples reflects the mutual nature of BSS lease agreements and urbanized BSS locations in Jakarta, with no vulnerable ethnic minorities within a 5 km radius.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Loan (Ordinary capital resources): USD 5.00 million

Loan (Australian Climate Finance Partnership): USD 5.00 million

Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

TBS is a leading energy company in Indonesia with a diverse business portfolio that includes waste management, renewable energy, and electronic vehicles. The company operates in Singapore and across its home turf, Indonesia. In 2021, TBS founded Electrum, which focuses on e-motorcycle manufacturing, battery technology, BSS, and charging infrastructure.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - PT TBS Energi Utama Tbk Client -

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

No contacts available at the time of disclosure.

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.adb.org/forms/request-information-form

ADB has a two-stage appeals process for requesters who believe that ADB has denied their request for information in violation of its Access to Information Policy. You can learn more about filing an appeal at: https://www.adb.org/site/disclosure/appeals

ACCOUNTABILITY MECHANISM OF ADB

The Accountability Mechanism is an independent complaint mechanism and fact-finding body for people who believe they are likely to be, or have been, adversely affected by an Asian Development Bank-financed project. If you submit a complaint to the Accountability Mechanism, they may investigate to assess whether the Asian Development Bank is following its own policies and procedures for preventing harm to people or the environment. You can learn more about the Accountability Mechanism and how to file a complaint at: http://www.adb.org/site/accountability-mechanism/main.

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How it works