Electric Vehicles (EVs) and industries surrounding the production of the batteries that support them, has been all over the news recently. Here the Jakarta Globe take a look at how Indonesia is welcoming Foxconn, a Taiwanese tech company, to materialize their investments in battery and the EV industries.
The Jakarta Globe article is reporting that Foxconn has agreed to build electric car components, batteries, and electric motors and relocate its telecommunications spare part manufacturing facilities from China to the Batang integrated industrial area in Central Java in a move estimated to bring USD 8-billion direct investment to Indonesia.
Earlier this year, the Taiwanese firm signed an MoU on the joint venture project with Indonesia’s state-owned battery maker Indonesia Battery Corporation (IBC), Indonesia’s listed miner Indika Energy, and Taiwan’s electric bike maker Gogoro Taiwan for its Indonesian operations.
Bahlil Lahadalia, the Minister of Investment and head of the Indonesian Investment Coordinating Board (BKPM) told the press that the President is “keen to see the investment materialized immediately. One thing to his delight, this [investment] involves a collaboration of a state-owned company, a foreign investor, and local MSMEs and entrepreneurs,”
Foxconn’s investment would put a milestone to Indonesia’s ambition to develop a global-scale electric vehicles industry and attract more investment to its shores. The Investment Coordinating Board (BKPM) targeted to attract domestic and foreign investment totaling IDR 1,200-trillion this year, up 33-percent from IDR 901-trillion last year.
For Foxconn, the initiative would present an fantastic opportunity to develop a sustainable new energy ecosystem in Indonesia with local partners. They are “excited to embark on the journey to transform the new energy ecosystem in Indonesia in cooperation with the local government, Gogoro, IBC, and Indika,” Liu, the Chairman of Hon Hai Technology Group, said in a statement in February.
“I believe the implementation of the MIH platform, alongside our build-operate-localize (BOL) strategy and manufacturing expertise, will allow us to meet the market demand and create a sustainable new EV [electric vehicles] ecosystem in Indonesia,” Liu said. He referred to “Mobility in Harmony,” an open EV ecosystem platform promoted by mainly Asian companies.
Source: Novy Lumanauw- Jakarta Globe
