According to a report by Reuters news agency, Foxconn has partnered with Indonesia’s Ministry of Investment and a few other companies to help boost the EV industry. The company is now going to foray into the smartphone as well as vehicle market, and for this, the company recently had deals with American startup Fisker and Thailand’s Energy Group. Now, the company is signing a Memorandum of Understanding (MoU) for investment in EV related technology.
Foxconn will also partner with the Indonesian Ministry of Investment and Indonesia Battery Corporation, energy firm PT Indika Energy and Taiwanese electric scooter maker Gogoro to manufacture the battery. As we mentioned, the partnership also aims to create a “new energy ecosystem” for the development of EV ancillary industries in Indonesia.
Under this, the company will focus on areas such as energy storage systems, battery exchange stations and recycling. At present, it is not known how much money the company has invested in this side as well as what are the future production plans of the company. Foxconn is aiming to provide components or services for 10 percent of the world’s electric vehicles from 2025 to 2027.<!–
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