INDONESIA: Foxconn to develop battery manufacturing and EV ecosystem

Global leader in smart manufacturing Foxconn (also known as Hon Hai Technology Group) has signed a Memorandum of Understanding (MoU) with the Indonesian Ministry of Investment/BKPM and other entities to jointly develop a sustainable new energy ecosystem in Indonesia.

Under the MoU, Foxconn, Gogoro, IBC and Indika will explore various investment and mutually beneficial collaborations in setting up the new ecosystem in the region. This will include electric battery manufacturing (including battery cells, modules and packs), the development of 4-wheel and 2-wheel electric vehicles and the ecosystem itself.

Paving the way for a smarter, more sustainable future

The ecosystem will comprise supporting industries, such as energy storage, battery exchange stations and battery recycling.

“I am pleased with the investment plan of Hon Hai and Gogoro to Indonesia together with local partners. Their involvement does not only bring in capital, but also share with us their technology and experience, creating a modern and open new EV ecosystem. It will also provide huge opportunities for local talents and local startups to develop and participate in the national EV ecosystem in Indonesia and pave the way for a smarter and more sustainable future,” said Mr. Bahlil Lahadalia, Minister of Investment.

“Hon Hai is excited to embark on the journey to transform the new energy ecosystem in Indonesia in cooperation with the local government, Gogoro, IBC and Indika. I believe the implementation of MIH platform, alongside our Build-Operate-Localize (BOL) strategy and manufacturing expertise will allow us to meet the market demand and create a sustainable new EV ecosystem in Indonesia” said Mr. Young Liu, Chairman of Hon Hai Technology Group.

Leveraging its open “MIH platform”, Hon Hai will enable cooperation and knowledge sharing between local Indonesian companies and global business players, creating sustainable new energy ecosystem in Indonesia. This is another government level cooperation of Hon Hai following the establishment of BOL growth strategy with PTT of Thailand last year.

Image courtesy of Hon Hai Technology.