Hon Hai Technology Group (Foxconn), a global leader in smart manufacturing, signed a Memorandum of Understanding (MoU) with the Indonesian Ministry of Investment/BKPM, IBC, Indika, and Gogoro to develop jointly a battery manufacturing and electric vehicle ecosystem in Indonesia.

Under the MoU, Foxconn together with Gogoro (a Taiwanese company that developed a battery-swapping refueling platform for urban electric two-wheel scooters, mopeds and motorcycles); IBC (Indonesia Battery Corporation) and Indika (integrated energy company) will explore a wide scope of investment and enter a mutually beneficial cooperation in setting up a new energy ecosystem in Indonesia, ranging from electric battery manufacturing that includes battery cells, battery modules and battery packs, to the development of 4-wheel and 2-wheel electric vehicles.

The cooperation will also include the development of EV supporting industries such as energy storage systems (ESS), battery exchange stations and battery recycling.

In the initial phase, the priority will be the development of production of EV batteries.

I am pleased with the investment plan of Hon Hai and Gogoro to Indonesia together with local partners. Their involvement does not only bring in capital, but also share with us their technology and experience, creating a modern and open new EV ecosystem. It will also provide huge opportunities for local talents and local startups to develop and participate in the national EV ecosystem in Indonesia and path the way for a smarter and more sustainable future.

—Bahlil Lahadalia, Minister of Investment

Foxconn and Thailand’s PTT last year set up a joint venture to establish a fully integrated electric vehicle production ecosystem in Thailand.