Indonesia’s biggest taxi firm hopes electric vehicles can counter threat from ride-hailing apps like Grab and Gojek

In 2015, the shares of Indonesia’s largest taxi company were soaring, while its revenue reached a record high. Then came Uber, followed by Grab and Gojek, Southeast Asia’s answer to the revolutionary ride-hailing app.Competition from the technology titans wiped out US$1.7 billion, or almost 80 per cent, of PT Blue Bird’s market value from a peak. Revenue plunged 23 per cent in three years and the latest quarterly earnings fell to a record low. But rather than give up, the 54-year-old cab…