Foxconn partners with Indonesia to develop electric cars

Foxconn partners with Indonesia to develop electric cars

The logo of Foxconn is seen on the headquarters building in Tucheng, Taipei County on May 25, 2010. TAIPEI, Jan 21, Reuters-Taiwan-based Foxconn 2317. TW has partnered with Indonesia's Investment Ministry and several companies to support the development of electric cars in the Southeast Asian country, adding to a string of such deals by the iPhone assembler.

In recent years, Foxconn, Apple's main iPhone maker, has expanded its activities in electric vehicles EVs, announcing deals with U.S. startup Fisker Inc FSR.N and Thailand's energy group PTT PCL PTT.BK.

Foxconn has signed a Memorandum of Understanding for EVs including battery manufacturing with the Indonesian Ministry of Investment, Indonesia Battery Corporation, energy firm PT Indika Energy INDY.JK and Taiwanese electric scooter vendor Gogoro, as well as energy firm PT Indika Energy INDY.JK.

The cooperation aims to build a new energy ecosystem in Indonesia, which includes the development of EV supporting industries such as energy storage systems, battery exchange stations and recycling.

An open MIH platform that provides hardware and software services to companies in Indonesia will be available, the statement said, without giving details of the size of the investment or production plans.

By 2025 to 2027, Foxconn hopes to reduce manufacturing and other costs for carmaking with its assembly know-how as the world's largest contract electronics manufacturer, according to Chairman Liu Young-way.