Indonesia’s EV dreams have a bumpy road ahead

In On the Rise this week, we explore Indonesia’s EV roadblocks, the flight of laid-off techies in SEA, and Vickers Venture’s investment strategies. [Read from your browser]( On the Rise 🚀 Welcome to On the Rise! Delivered every Tuesday via email and through the Tech in Asia website, this free newsletter breaks down the biggest stories and trends in emerging tech. If you’re not a subscriber, get access by [registering here](. Written by Collin Furtado Journalist Hello {NAME} I recently learned how to drive a car. It’s almost an essential skill in the place I live, Goa. This Indian state is as known for its beaches as it is for its unreliable and expensive ride-hailing service, so I’m excited to buy a car now that I can drive one. My knowledge of four-wheelers is limited, but that has only encouraged me to notice the make and model of every car I see. Not surprisingly, I’ve been toying with the idea of opting for an electric car since those are increasingly becoming popular. However, with limited electric vehicle (EV) models to choose from, they aren’t the most pocket-friendly. Much like in India, the demand for EV cars in Indonesia is growing. For instance, my colleague Putra notes in this week’s Big Story that Wuling Air EV managed to sell 8,000 units in Indonesia in just three months after its launch. Aside from Wuling, several other manufacturers are rolling out their EV operations in the country. Most notable among them is Tesla, which is reportedly looking to close a deal to build an EV plant in Indonesia that could manufacture 1 million cars per year. Equipped with automobile manufacturing capabilities and being a top nickel exporter - a key ingredient for EV batteries - Indonesia makes for a very attractive proposition for EV players. Yet several roadblocks hold back the country’s EV dreams. Speaking of roadblocks, in our second Big Story, I explore the ground realities of what laid-off tech workers are facing now. While experts say that there are plenty of jobs available, expectations of employees and employers have increased significantly. Many workers are even preferring to join non-tech firms over startups in hopes of job security. Shifting gears to some positive news, Vickers Venture Partners’ Finian Tan shares with my colleague Nikita that the VC firm will invest up to US$30 million more into Asian startups this year. More in this week’s Making Waves. -- Collin  --------------------------------------------------------------- THE BIG STORIES 1️⃣ [Indonesia courts Tesla but faces EV roadblocks]( In spite of its nickel reserves, the country’s EV story has big challenges, including not having a local car brand. 2️⃣ [Where are SEA’s laid-off techies headed?]( The trauma of being laid off has led some candidates to ditch startup jobs for a career at non-tech firms.  ---------------------------------------------------------------  MAKING WAVES [Will deploy up to $30m more in Asia, says Vickers Venture’s Finian Tan]( The founder of Vickers Venture Partners talks about his investment strategy as well as [SPACs]( in light of a merger with a US-based pharma company.  --------------------------------------------------------------- AI ODYSSEY Promising AI projects we’re noticing. OpenAI’s new tool to detect if ChatGPT wrote your assignment At the end of January, news of [ChatGPT being able to pass a Masters in Business Administration exam]( at University of Pennsylvania’s Wharton School went viral. It sparked off a debate on the unethical use of AI bots. But in a smart move, ChatGPT maker OpenAI launched a new tool that can detect text written by an AI bot. Launched last week, the [tool called Classifier]( is trained to distinguish between AI- and human-written text. The firm said it has trained the AI tool from a “variety of providers.” However, the company admitted that Classifier isn’t fully reliable. The tool’s accuracy of identifying AI-written text at the moment was at 26%. It also incorrectly labels human-written text as AI-written 9% of the time. OpenAI also said that the reliability of Classifier in identifying AI-written text improves with longer passages. It’s “very unreliable” for text below 1,000 characters. “We recommend using the Classifier only for English text. It performs significantly worse in other languages and it is unreliable on code,” OpenAI added. In what seems to be a way to allay the concerns of educational institutions about the use of ChatGPT in the classroom, the company said they are “engaging with educators in the US to learn what they are seeing in their classrooms and to discuss ChatGPT’s capabilities and limitations.” This feedback could well be a significant brick in AI’s learning wall. -- Collin  --------------------------------------------------------------- FYI 1️⃣ [Exclusive: Acquiring MyRobin the first of BetterPlace’s SEA plans]( BetterPlace plans to invest north of US$50 million over the next three years to expand into Southeast Asia. It’s also hiring across the region. 2️⃣ [The lowdown on Malaysia’s digital nomad visa]( Be prepared for long wait times and loopy policies.  --------------------------------------------------------------- NEWS YOU SHOULD KNOW Also check out Tech in Asia’s coverage of the emerging tech scene [here](. 1️⃣ [Exclusive: RedDoorz breaks even in Indonesia, Philippines]( CEO Amit Saberwal talks about the hospitality startup’s plans to break even in all of its markets by Q4 this year, among other goals. 2️⃣ [Indonesia’s CoHive officially bankrupt]( The Central Jakarta district court has appointed a team to confiscate and auction off the co-working startup’s assets. 3️⃣ [Singapore EV maker secures $18.7m series A top up]( Ion Mobility onboarded TVS Motor Company as a strategic investor in the round. 4️⃣ [Philippines-based Foxmont Capital snaps up $21.3m for 2nd fund]( Investors such as Singapore-based Pavilion Capital, Taiwan-based AppWorks, and Netherlands-based Orient Growth backed the fund. 5️⃣ [Healthtech firm WhiteCoat grows revenue 3x, aims for profitability in SG]( The telehealth startup is also looking to raise US$25 million in a series B round.  --------------------------------------------------------------- That’s it for this edition - we hope you liked it! Do also check out previous issues of the newsletter [here](. Not your cup of tea? You can unsubscribe from this newsletter by going to your “edit profile” page and choosing that option in our preference center. See you next week! [ADVERTISE]( | [SUBSCRIBE]( | [HIRE]( | [FIND JOBS]( P.S. Don't miss out on the biggest tech news and analysis. Add newsletter@techinasia.com to your address book, contacts, or safe sender list. Or simply move us into your inbox. Too many emails? Switch to a different frequency or get new content through our [preference center]( or [unsubscribe](. You can also break our hearts and remove yourself from all Tech in Asia emails over [here](  Copyright © 2023 Tech in Asia, All rights reserved. 63 Robinson Road, Singapore 068894