Navigating the Development of Battery Electric Vehicle Business Ecosystem in Indonesia: Business Strategy and Scenario Planning for PLN ICON PLUS

The Government of Indonesia (GoI) strong interest in developing a robust Battery Electric Vehicle (BEV) business ecosystem in Indonesia has created significant business opportunities for PLN (Perusahaan Listrik Negara), the state-owned electricity company of Indonesia. To push the GoI agenda and seizing the opportunities, PLN ICON PLUS, a beyond kWh subsidiary of PLN, need to define their business strategy in BEV related business comprehensively and thoughtfully. Researchers utilizes a mixed qualitative and quantitative approach, in collaboration with PLN ICON PLUS and Executive Office of the President of Indonesia (KSP RI), to develop a robust business strategy and scenario planning for PLN ICON PLUS. The resource-based view analysis is employed to define the business strategy, while a quantitative approach is used to assess the driving forces of the BEV business ecosystem in Indonesia, enabling the development of scenario planning for the year of 2024. This research reveals that a broad low-cost strategy for open platform BEV dealership business aligns well with the internal capabilities of PLN ICON PLUS and the external conditions of the BEV business ecosystem. Additionally, a scenario planning approach using European nations’ exploration of the New World during the age of exploration analogy is developed to enhance PLN ICON PLUS’s preparedness in navigating the uncertainties of favorable regulations and consumer purchasing power in 2024.