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Foxconn to start $8 billion investment in Indonesia EV sector in Q3

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JAKARTA : Taiwan-based Foxconn will launch an $8 billion investment in Indonesia in the third quarter of this year to manufacture electric vehicles (EVs) and batteries, an Indonesian minister said on Wednesday. The iPhone assembler will build a factory on 200 hectares (494.21 acres) of an industrial zone

JAKARTA : Taiwan-based Foxconn will launch an $8 billion investment in Indonesia in the third quarter of this year to manufacture electric vehicles and batteries, an Indonesian minister said on Wednesday.

That partnership included state-owned Indonesia Battery Corporation, energy firm PT Indika Energy and Taiwanese electric scooter vendor Gogoro. Indonesia has been trying to court Foxconn's investment for years but a previous deal agreed in 2015 collapsed.

 

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