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Foxconn, Gogoro, IBC, and Indika to jointly develop new energy ecosystem in Indonesia

The virtual signing event was presided by Mr. Bahlil Lahadalia, Minister of Investment/ Chairman of BKPM, in the presence of Mr. Young Liu, Chairman of Hon Hai Technology Group (Foxconn), Mr. Horace Luke, CEO of Gogoro, Mr. Toto Nugroho, President Director of IBC, and Mr. Azis Armand, Vice President of Indika.

Global electronics major Foxconn (Hon Hai Technology Group) has signed an MoU with the Indonesian Ministry of Investment (BKPM), PT. Industri Baterai Indonesia (IBC), PT. Indika Energy Tbk., (Indika), and Taiwanese E2W firm Gogoro to jointly develop a sustainable new energy ecosystem in Indonesia that focuses on battery manufacturing, e-mobility, and related industries.

As per the announcement, Foxconn, together with Gogoro, IBC, and Indika, will explore a wide array of investments and cooperation in setting up a new energy ecosystem in Indonesia. This includes battery manufacturing encompassing cell, module, and battery pack production, along with the development of the 2W and 4W EV ecosystem.

"Hon Hai is excited to embark on the journey to transform the new energy ecosystem in Indonesia in cooperation with the local government, Gogoro, IBC, and Indika. I believe the implementation of 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 ecosystem in Indonesia" said Mr. Young Liu, Chairman of Hon Hai Technology Group.

The cooperation also includes the exploration of EV supporting industries such as energy storage systems (ESS), battery exchange stations, and battery recycling. In the initial phase, the development of new energy and complete battery manufacturing platform - producing LFP or Nickel (solid-state) premium quality EV batteries—will be the priority, the company says.

"I am pleased with the investment plan of Hon Hai and Gogoro to Indonesia together with local partners. Their involvement does not only bring in the capital but also share with us their technology and experience, creating a modern and open new EV ecosystem. It will also provide huge opportunities for local talents and local startups to develop and participate in the national EV ecosystem in Indonesia and path the way for a smarter and more sustainable future," said Mr. Bahlil Lahadalia, Minister of Investment.

Leveraging its open "MIH platform", Foxconn has vowed to enable cooperation and knowledge sharing between local companies and global players. 

Author : Dhiyanesh Ravichandran
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