Indonesian Billionaire Brothers’ Djarum Group Unveils Electric SUVs Amid Intense Competition

By: bitcoin ethereum news|2025/05/07 17:15:01

The Polytron G3. Polytron —a home appliances maker controlled by billionaire brothers R. Budi and Michael Hartono ’s Djarum Group—is entering the automotive industry with the introduction of an Indonesian made electric vehicle. Developed in partnership Chinese EV maker Skyworth Automobile, Polytron is selling the five-seater sports utility vehicles G3 and G3+ at 299 million rupiah ($18,166) to 459 million rupiah each, with options for either a fixed battery or a replaceable one that is rented on a monthly basis. The partners plan to produce about 10,000 cars in the next three years. Polytron’s entry into the competitive automotive industry comes amid rising demand for EVs in Indonesia. Despite a slowdown in overall car sales in the country last year, EV sales increased 152% to 43,000 units, according to a recent report by brokerage Verdhana Sekuritas Indonesia. Chinese EV makers have been expanding aggressively in Indonesia to tap on the growing domestic demand. BYD, the world’s largest EV maker by unit sales, launched its first car in the country early last year and is now building a $1 billion factory in Subang, about 100 km southeast of Jakarta. In February, Xpeng—founded by Chinese billionaire He Xiaopeng—also entered the market, backed by local electronics distributor Erajaya Group. Polytron, which has been selling electric motor bikes since 2022, hopes to hold its own against foreign car manufacturers. Its SUVs can travel across a distance of 402 kilometers on a fully-charged battery and come with features such as a large sunroof, 20-inch wheels and a 12.8-inch touchscreen entertainment system. “With a mission to improve the experience of Indonesian families, approaching the celebration of our 50-year journey we want to ensure that daily mobility innovation is not only about technology, but also about accessibility,” Hariono, CEO of Polytron said in a statement. Founded in 1975, Polytron currently operates three manufacturing plants in Central Java, producing appliances such as refrigerators, air conditioners, and televisions. The company, which is part of the Hartono brothers’ Djarum Group, employs over 10,000 people and has 19 offices and 61 service centers across Indonesia. With a combined net worth of $50.3 billion, Budi and Michael Hartono topped the list of Indonesia’s 50 Richest that was published in December. Their interests span across banking, cigarettes and prime real estate in Jakarta. They also hold a stake in Global Digital Niaga, the parent of e-commerce firm Blibli. Source: https://www.forbes.com/sites/yessarrosendar/2025/05/07/indonesian-billionaire-brothers-djarum-group-unveils-electric-suvs-amid-intense-competition/

On March 4, 2026, DDC Enterprise Limited (NYSE American: DDC) today announced preliminary, unaudited full-year financial performance for the year ended December 31, 2025. The company expects to achieve record revenue and record positive adjusted EBITDA, primarily driven by continued growth in its core consumer food business and overall margin improvement. The final audited financial report is expected to be released in mid-April 2026.

2025 Full-Year Financial Highlights

Revenue: Expected to be between $39 million and $41 million, reaching a new company high.

Organic Growth: Excluding the impact of the company's strategic contraction of its U.S. operations, core revenue is expected to grow 11% to 17% year over year.

Gross Profit Margin: Expected to be between 28% and 30%, reflecting continued operational efficiency improvements.

Adjusted EBITDA: The company expects to achieve a positive full-year result in 2025, a significant improvement from a $3.5 million loss in 2024, mainly due to rigorous cost controls and a higher-margin sales mix.

Core Consumer Food Business Performance

In 2025, DDC's core consumer food business maintained strong operational performance.

The company also disclosed Core Consumer Food Business Adjusted EBITDA, a metric that further excludes costs related to its Bitcoin reserve strategy and non-cash fair value adjustments related to its Bitcoin holdings from adjusted EBITDA to more accurately reflect the core business performance.

In 2025, Core Consumer Food Business Adjusted EBITDA is expected to be between $5.5 million and $6 million.

Bitcoin Reserve Update

In the first half of 2025, DDC initiated a long-term Bitcoin accumulation strategy, holding Bitcoin as its primary reserve asset.

As of December 31, 2025: The company holds 1,183 BTC.

As of February 28, 2026: Holdings increased to 2,118 BTC

Today's additional purchase of 65 BTC brings the company's total holdings to 2,183 BTC

DDC Founder, Chairman, and CEO Norma Chu stated, "We are proud to have closed 2025 with record revenue and positive adjusted EBITDA, demonstrating the steady growth of the company's consumer food business and the ongoing improvement in profitability. We are building a disciplined, growth-oriented food platform and strategically allocating capital to Bitcoin assets with a long-term view, aligning with our core beliefs. We believe that this dual-track model of 'Steady Consumer Business + Strategic Bitcoin Reserve' will help DDC create lasting long-term value for shareholders."

Adjusted EBITDA Definition
For the full year 2025, the company defines "Adjusted EBITDA" (a non-GAAP financial measure) as: Net income / (loss) excluding the following items:· Interest expense· Taxes· Foreign exchange gains/losses· Long-lived asset impairment· Depreciation and amortization· Non-cash fair value changes related to financial instruments (including Bitcoin holdings)· Stock-based compensation

About DDC Enterprise Limited

DDC Enterprise Limited (NYSE: DDC) is actively implementing its corporate Bitcoin Treasury strategy while continuing to strengthen its position as a leading global Asian food platform.

The company has established Bitcoin as a core reserve asset and is executing a prudent, long-oriented accumulation strategy. While expanding its portfolio of food brands, DDC is gradually becoming one of the public company pioneers in integrating Bitcoin into its corporate financial architecture.

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DDC Enterprise Limited Announces 2025 Unaudited Preliminary Financial Performance: Record Revenue Achieved, Bitcoin Treasury Grows to 2183 Coins