Indonesia, which has impressive nickel reserves, is of great interest to investors tying their business to lithium battery and electric vehicle production. Municipalities not only want to export raw materials and work for the comprehensive development of national industry. In addition to LG Energy Solution and Hyundai Motor, Foxconn has also expressed a desire to participate in this process.
According to information Reuters, a Taiwanese contract electronics manufacturer, has signed a cooperation agreement with the Indonesian Ministry of Investment and a number of companies to develop the electric vehicle market in that country. Foxconn’s partners in the initiative are Indonesia Battery Corporation, energy company PT Indika Energy and electric scooter manufacturer Gogoro.
With the participation of Foxconn, an ecosystem is being built in Indonesia that includes stationary energy storage systems, battery swapping stations and battery recycling points. The MIH platform, which allows companies that do not have sufficient experience in this field to develop electric vehicles, will also be available to manufacturers operating in Indonesia. Keep in mind that Foxconn itself expects to capture at least 10% of the global electric vehicle contract manufacturing market by mid-decade.