Astra International (ASII), the country’s largest automotive company, confirmed on Monday (Feb 12) that it has agreed to invest US$150 million, equivalent Rp2 trillion, in Go-Jek, the country’s largest home-grown ride-hailing company. The investment marked the initial step of the company to enter the digital business.
Go-Jek’s ability to perform millions of transactions per month has lure market players’ interest (including that of Astra) in investing in the company. Astra’s investment in the company was the latest in a series made by a number of investors. Earlier, internet giant company Google confirmed its own plan to invest in Go-Jek. Djarum, another major local conglomerate, known for its portfolio in the tobacco business, has reportedly invested US$100-120 million.
