Apple supplier Foxconn partners Indonesia to support development of EVs

Foxconn has signed a memorandum of understanding (MoU) with Indonesia for a wide scope of investment on EVs.
By : HT Auto Desk
| Updated on: 23 Jan 2022, 09:58 AM
FILE PHOTO: A sign of Foxconn is seen at a glass door inside its office building in Taipei, Taiwan (REUTERS)
FILE PHOTO: A sign of Foxconn is seen at a glass door inside its office building in Taipei, Taiwan (REUTERS)
FILE PHOTO: A sign of Foxconn is seen at a glass door inside its office building in Taipei, Taiwan (REUTERS)
FILE PHOTO: A sign of Foxconn is seen at a glass door inside its office building in Taipei, Taiwan

Taiwan-based Apple supplier Foxconn has sealed partnership with Indonesia's Investment Ministry and several companies in order to support the development of electric vehicles in the country. The company has expanded its EV-related activities in the recent years, announcing deals with US startup Fisker Inc and Thailand's energy group PTT PCL.

Foxconn has signed a memorandum of understanding (MoU) with Indonesia for a wide scope of investment on EVs such as battery manufacturing with the Indonesian Ministry of Investment as well as Indonesia Battery Corporation, energy firm PT Indika Energy and Taiwanese electric scooter vendor Gogoro.

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These partnerships which look to build a "new energy ecosystem" in the Southeast Asian country, also aims to develop EV supporting industries such as energy storage systems, battery exchange stations and recycling. Under the deal, an open "MIH platform" that provides both hardware and software services will be made available to companies in Indonesia.

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(Also read | Stellantis, Foxconn together to design and make flexible semiconductors)

Foxconn hasn't revealed much details about the platform or about the size of the investment or production plans. However, going forward, Foxconn aims to provide components or services to 10% of the world's EVs by 2025 to 2027, the company's Chairman Liu Young-way has said. He also vowed to lower manufacturing and other costs for making cars with its assembly know-how as the world's largest contract electronics manufacturer.

Last month, Stellantis and iPhone assembler Foxconn announced a strategic partnership to design purpose-built semiconductors to support the automaker and third-party customers. Both the companies aim to create four new families of chips that will cover over 80 per cent of the brand's semiconductor needs. The partnership will also help the automaker modernise components, reduce complexity and simplify the supply chain. “This will also boost our ability to innovate faster and build products and services at a rapid pace," Stellantis CEO Carlos Tavares had stated.

First Published Date: 23 Jan 2022, 09:58 AM IST
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