XPeng Acquires 90.1% Stake in Indonesia's EIDO to Localize EV Production

XPeng Inc. has completed the acquisition of a 90.1% stake in PT Era Industri Otomotif (EIDO), the electric vehicle manufacturing entity under Indonesian-listed company PT Sinar Eka Selaras Tbk. According to disclosures from the Indonesia Stock Exchange, the transaction became effective on May 13, 2026. The deal involves the transfer of 154,072 shares of EIDO—representing 90.1% of its total issued capital—from ERAL to XPeng International Holdings (Hong Kong) Limited. Following the transaction, XPeng becomes EIDO’s controlling shareholder, while ERAL retains the remaining 9.9% stake. Prior to this, ERAL held 99.99% of EIDO’s shares. This equity restructuring applies solely to EIDO’s manufacturing operations, which focus exclusively on the local production and assembly of electric vehicles in Indonesia. ERAL stated that the transaction will not have a material impact on its overall operations or financial condition. Regarding sales and services, XPeng’s distribution, retail, and after-sales service activities in Indonesia will continue to be managed by ERAL’s subsidiaries PT Era Inovasi Otomotif (EIVO) and PT Era Dealer Otomotif (EDOO). ERAL’s management emphasized that all business operations remain unaffected and continue as usual. This acquisition forms part of the deepened long-term strategic partnership between ERAL and XPeng, aimed at advancing Indonesia’s electric vehicle ecosystem and supporting the development of intelligent mobility solutions tailored to local market needs.