Indonesian EV maker MAKA Motors sees losses surge 5x

Indonesian EV maker MAKA Motors sees losses surge 5x

MAKA Motors Co-Founders Raditya Wibowo. and Arief Fadillah (Photo courtesy of MAKA Motors)

Indonesia-based electric vehicle (EV) maker MAKA Motors, which is yet to begin commercial operations, reported a nearly 5x jump in losses during the financial year ended December 31, 2023, as expenses shot up more than 5.5 times, regulatory filings showed.

Edited by: Joymitra Rai