Hon Hai Precision Industry Co (鴻海精密) in the third quarter this year is to launch an investment to make electric vehicles (EV) and batteries in Indonesia, officials said.
Indonesian Minister of Investment Bahlil Lahadalia on Wednesday told a forum in Jakarta that Hon Hai, known as Foxconn internationally, would build a factory on a 200-hectare plot of land in the Batang Industrial Complex in Central Java, Reuters and Indonesia-based news Web site Industry.co.id reported.
In addition to vehicles, the factory is to produce battery cells, cathode precursors and telecommunications spare parts, the reports said.
Photo: Bloomberg
On Jan. 21, Hon Hai and Taiwanese electric scooter brand Gogoro Inc (睿能創意) signed a memorandum of understanding with Indonesian state-owned battery maker Indonesia Battery Corp, Indonesian integrated energy company Indika Energy and Industri Baterai Indonesia to develop electric vehicles in the Southeast Asian country.
Hon Hai chairman Young Liu (劉揚偉) on Thursday told a ceremony to mark the start of business after the Lunar New Year at the firm’s headquarters in New Taipei City that the company would sign a formal agreement with its Indonesian partners next month.
Total investment by the five partners would be US$8 billion, Liu said.
Beyond cooperation on EV development, the project is also aimed at forging a battery supply chain in Indonesia that could help support a sustainable energy ecosystem, Hon Hai said.
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