United Bike (UNTD) Targets Export of 3,000 Electric Motorcycles in 2024

CORPORATE STRATEGIC - JAKARTA. United Bike manufacturer, PT Terang Dunia Internusa Tbk (UNTD), is targeting to export 2,000-3,000 units of electric motorcycles in 2024.

Just so you know, UNTD officially listed on the Indonesia Stock Exchange (IDX) today (7/2). In the first trading, until 09:01 WIB, UNTD shares rose 0.83% to a price position of IDR 242 per share.

UNTD Director Andrew Mulyadi said, for bicycles, UNTD has long been exporting to regions in Europe, America, and Asia. 

Meanwhile, for electric motorcycles, UNTD has just started exporting to Malaysia. So far, UNTD has only exported 1,000 units of electric motorcycles.

"We have a partnership with a distributor in Malaysia, and there is also joint assembly there. This year's target is 2,000-3,000 units in Malaysia," he said when met at the IDX Building, Wednesday, (7/2).

Read Also: Official IPO, United Bike Shares Rise Slightly by 0.83%

UNTD also plans to expand export destinations to other countries in Southeast Asia in 2024.

“This year we are marketing to neighboring countries in ASEAN, such as Singapore, Malaysia, and Brunei Darussalam,” he revealed.

Andrew explained, UNTD also targets the expansion of dealers and distributors. In 2024, UNTD targets at least one distributor to have 10 dealers. 

Regarding capital expenditure (capex), UNTD has prepared IDR 50 billion for the addition of production machines.

Unfortunately, Andrew did not mention the revenue and profit targets of UNTD in 2024. “The revenue and profit for 2023 are still being calculated,” he said.

The company, which manufactures United Bike bicycles and United E-Motor electric motorcycles, offered as many as 1.66 billion shares in the initial public offering (IPO) with a public offering price of 240 per share. Through this corporate action, the Company successfully pocketed fresh funds of IDR 400 billion. 

In detail, UNTD also has a wide distribution network with 490 United Bike dealers and 26 dealers and 49 sub-dealers of United E-Motor. UNTD produces bicycles, electric bicycles, e-Mopeds, and electric motorcycles. 

The types of bicycles and electric bicycles owned by TDI vary from folding bikes, mountain bikes, road bikes, and others. For electric motorcycles. For electric motorcycles, UNTD has 4 types of e-Motor, namely MX-1200, T-1800, TX-1800, and TX-3000, with the highest specification being TX-3000.

Based on the prospectus, UNTD's total equity increased by IDR 46.8 billion or 27.8%, from IDR 168.3 billion on December 31, 2022, to IDR 215.1 billion on July 31, 2023. The increase was due to the acquisition of comprehensive profit for the seven-month period ending on July 31, 2023.