Electric motorcycle startup Damon Motors isn’t bashful when it comes to forging new partnerships. In the past seven months, the Canada-based brand collaborated with Sinbon on integrative design solutions and developed its cloud-connected user interface (UI) alongside messaging platform EMQX. Damon’s latest deal with Indonesia’s Indika Energy opens even more doors for the startup.
As a part of the agreement, the Indonesian conglomerate invested an undisclosed amount in Damon. In turn, the company will distribute future Damon motorcycles within the Indonesian market. For those unfamiliar with Indika Energy, the energy-producing giant specializes in coal mining but started its first electric mobility brand, Ilectra Motor Group (IMG), as a joint venture with Alpha JWC Ventures and Horizons Ventures in May, 2022.
“Indonesia has a great opportunity to transform the riding experience for millions of people dependent on two wheels,” proclaimed Indika Energy CEO Azis Armand. “Our vision for an electrified roadway mirrors Damon’s. Through our subsidiary, PT IIectra Motor Group (IMG), we are committed to developing EV motorcycles and its supporting ecosystem in Indonesia. We believe this partnership will open more opportunities for collaboration to accelerate our go-to-market strategy and meet the country’s net-zero goal. This also aligns with Indika Energy’s commitment to achieve net zero by 2050.”
Indonesia has even more ambitious goals in mind between now and 2050. By 2025, Indonesia President Joko Widodo wants to add 2 million electric motorbikes on the road. Officials hope that the initiative helps them reach a 29-percent cut in annual emissions by 2030. Additionally, Damon and Indika will develop new electric two-wheeler platforms to meet the needs of Indonesian customers. While Indonesia presents a lucrative business opportunity, it also holds personal significance for Damon Co-Founder and CEO Jay Giraud.
“My journey with Damon started in Indonesia, so this partnership with Indika Energy brings me full circle, opening the door to one day transforming the industry at a global level,” revealed Giraud. “Indonesia has set a goal to reach net-zero emissions by 2060. Damon is equally committed with Indika Energy to achieve this goal together.”
The news arrives as Damon approaches $100M in pre-orders. We have yet to see a Damon model hit the road, but we’re hopeful this new development motivates the startup to finally roll out its lineup in the near future.
