JakartaGlobe-Feb 1

Taiwan’s Foxconn Technology Group, the world’s largest electronic components maker, will build electric cars components, electric batteries, 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 $8 billion direct investment to Indonesia, a minister said on Monday. “We had signed the [memorandum of understanding] early this month. They will come to Batang,” the Investment Minister and Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia told the House of Representatives Commission VI, which oversees investment trade, investment, state-owned enterprises, small- and medium-sized businesses, and national standardization, on Monday. On Jan 21, Foxconn’s listed flagship company Hon Hai Precision Industry, Indonesia’s state-owned battery maker Indonesia Battery Corporation (IBC), Indonesia’s listed miner Indika Energy, and Taiwan’s electric bike maker Gogoro Taiwan signed the MoU to develop electric vehicles ecosystem that focuses on electric battery, electric mobility, and associated industries in Indonesia, the Taiwanese company said in a statement.  Read more at: https://jakartaglobe.id/business/foxconn-chooses-c-javas-batang-industrial-complex-for-8b-project-in-ev-ecosystem