Taiwanese manufacturer Hon Hai, better known as Foxconn, has signed a Memorandum of Understanding (MoU) with the Indonesian Ministry of Investment together with several other companies to support the development of an electric energy ecosystem in the country.
The deal will see Foxconn investing in industries related to electric vehicles, including electric cells, modules, packs, as well as the development of four-wheel and two-wheel EV ecosystems. It will also help develop energy storage systems, battery exchange stations, and battery recycling.
According to Foxconn, the initial phase of the New Energy and Full Battery Platform Production in Indonesia will focus on making premium solid-state EV batteries. Other signatories include Indonesia Battery Corporation, Indonesian energy firm Indika Energy, and Taiwanese electric scooter company Gogoro.
Foxconn will leverage on its Mobility in Harmony (MIH) platform, the company’s open software and hardware platform for EVs, which has partnerships with ARM, Microsoft, and Trend Micro. The iPhone maker has set plans to provide components or services for 10% of the world’s EVs by 2025 to 2027, with plans to launch its own solid-state battery in 2024.
The deal seems to bolster the Indonesian government’s commitment to producing 140 GWh worth of batteries by 2030, after partnering with LG to build an electric battery factory. Meanwhile, back in Malaysia, Proton has recently announced plans to start importing smart EVs into the country, with Bajet 2022 introducing full tax exemption for electric cars.