iPhone maker Foxconn signs MoU with Indonesian ministry to make electric vehicles

Based in Taiwan foxcon said it had teamed up with Indonesia’s Ministry of Investment 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.

foxconApple’s main iPhone maker, has been expanding its electric vehicle (EV) business in recent years, announcing deals with US startup Fisker Inc and Thai energy group PTT PCL.

foxcon said it has signed a memorandum of understanding for a wide range of investments in electric vehicles, including battery manufacturing with the Indonesian Ministry of Investment as well as Indonesia Battery Corporation, energy company PT Indika Energy and the Taiwanese supplier of Gogoro electric scooters.

The cooperation, which aims to build a “new energy ecosystem” in Indonesia, also includes the development of electric vehicle support industries such as energy storage systems, battery exchange stations and recycling, foxcon said in a statement.

Under the partnership, an open “MIH platform” that provides both hardware and software services will be available for businesses in Indonesia, the statement said, without giving details on the size of investment plans or of production.

foxcon aims to provide components or services to 10 percent of the world’s electric vehicles by 2025 to 2027, Chairman Liu Young-way said, pledging to reduce manufacturing and other costs for auto manufacturing through its assembly expertise as the world’s largest contract electronics manufacturer.

Reuters

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