Apple iPhone maker Foxconn has just announced that it is partnering up with the Indonesian Investment Ministry along with other firms for the develop of electric vehicles in the region.
According to a Reuters report, the Taiwanese Apple supplier has entered a partnership with Indonesia and other companies to help boost the EV industry. For those unaware, the company has recently been expanding outside of the smartphone industry and has entered the automobile market as of late. It had even struck a deal with US startup Fisker and Thailand’s energy group as well. Now, it is signing a memorandum of understanding (MoU) for investment in EV related technologies.
This includes battery manufacturing, which will also be backed by investment from the Indonesian Ministry of Investment and the Indonesia Battery Corporation, an energy firm PT Indika Energy, and Taiwanese electric scooter maker Gogoro. Furthermore, the partnership aims to build a “new energy ecosystem” in the Southeast Asian country for the development of EV supporting industries as well.
This would include aspects like the energy storage systems, battery exchange stations and recycling. Unfortunately, the exact scale and size of the investment is currently unknown and the production plans are also at large at the moment. Foxconn is seeking to provide components or services to 10 percent of the world’s EVs by 2025 to 2027.
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