Wuling Finance Forges Partnership with Akulaku Finance Indonesia

JAKARTA [May 15, 2024] Wuling Finance, operating under PT SGMW Multifinance Indonesia (SGMW), and PT Akulaku Finance Indonesia (Akulaku), a leading digital finance company in Indonesia, today announced that they have reached a collaboration agreement. This partnership is more than just a milestone in consumer financing, it also marks the beginning of PT Akulaku Finance Indonesia expanding its business into the automotive and heavy equipment financing sectors.

With SGMW’s extensive experience in the automotive financing sector in Indonesia, the partnership is poised to create exciting opportunities for the people of Indonesia and meet the evolving needs of the automotive sector.

“This collaboration marks a major step for Akulaku in strengthening our position as a consumer financing leader in Indonesia,” said Efrinal Sinaga, President Director of PT Akulaku Finance Indonesia. “We are committed to providing innovative, inclusive, and easily accessible financial solutions for both producers and consumers in the automotive and heavy equipment industries.”

“Akulaku is a leading digital financing service provider,” said Wang Tao, CEO of PT SGMW Multifinance Indonesia. “This partnership will create significant added value for both parties and strengthen our joint position in providing comprehensive solutions for the Indonesian people. With Akulaku’s help, Wuling Finance Indonesia will continue to adjust and refine based on customer needs.”

In this strategic collaboration, SGMW and Akulaku will collaborate, enabling both companies to

provide a more diverse and impactful array of automotive and heavy equipment financing services.

About Wuling Finance

Wuling Finance, operating under the entity PT SGMW Multifinance Indonesia, is a vehicle financing company for four-wheeled vehicles manufactured by Wuling. Established in 2018, Wuling Finance’s financing services are available at all Wuling dealerships in Indonesia. PT SGMW Multifinance Indonesia operates with four main shareholders: SAIC Motor, General Motors, Wuling Motors, and Sinarmas Multiartha. Continuously applying appropriate strategies, PT SGMW Multifinance Indonesia aims to provide the best services to its customers.

About PT Akulaku Finance Indonesia

PT Akulaku Finance Indonesia is a digital-based financing company that offers the Akulaku PayLater product as a buy now pay later (BNPL) service solution, allowing users to transact on various e-commerce platforms using available credit limits. PT Akulaku Finance Indonesia is a licensed financing company supervised by the Financial Services Authority. Akulaku PayLater BNPL service solutions are available on various top e-commerce platforms in Indonesia.