Foxconn announced today that it has signed a MoU with the Ministry of Investment (Indonesia), PT. Industri Baterai Indonesia (IBC), PT. Indika Energy, and Gogoro that focuses on the relevant industry chains for batteries and EVs in the hopes of developing a sustainable new energy ecological chain in Indonesia.

The signing of the MoU this time was done online with both Taipei and Jakarta overseeing the process simultaneously. Foxconn will be working with Gogoro, IBC, and Indika based on a profitable partnership by establishing a new energy vehicle ecological chain in Indonesia that will co-explore the vast investment field, including the development of ecological chains on battery cells, battery modules, battery packs, four-wheeled EVs, and two-wheeled EVs.

The MOU will also probe into the development of the industry for peripheral measures of EVs, such as energy storage systems (ESS), battery swapping stations, and battery recycling. For the early phase of the partnership, LFP and solid-state batteries will be the priority of development, with a target that is focused on Indonesia’s new energy and battery platform.

Liu Yang-wei, Chairman and President at Foxconn, commented that the company is delighted to be working with the Indonesian government, Gogoro, IBC, and Indika on Indonesia’s journey in the transformation and upgrades of new energy vehicle ecology. Liu believes that the MIH platform, together with the growth strategies and manufacturing profession of Foxconn’s BOL (Build-Operate-Localize), are going to create a sustainable new energy vehicle ecological chain in Indonesia by conforming to the demand for the new energy vehicle market.

Foxconn will concatenate local Indonesian businesses with partnership and knowledge among global businesses through the open MIH platform in the future in the hopes of creating a sustainable new energy vehicle ecological chain for the country. This will be another government-level partnership for Foxconn after the co-growth strategy that the company had formed with Thailand last year.

(Cover photo source: Foxconn)