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Foxconn forms Indonesian JV for EV and battery manufacturing - Nikkei Asia

Nikkei Asia LogoNikkei Asia1w ago

Foxconn forms Indonesian JV for EV and battery manufacturing - Nikkei Asia - Nikkei Asia

Quick Summary:

Foxconn’s initial investment in this newly-formed electric vehicle joint venture will be $1.75 million and it will take 40% of the shares.

The two companies said in a joint press statement that Foxconn Indika Motor, the new joint venture, will "build, operate [and] localize" commercial EV manufacturing in Southeast Asia's largest economy, as well as develop its supporting industries -- including for batteries.

JAKARTA/TAIPEI - Taiwanese tech group Hon Hai Precision Industry, better known as Foxconn, and Indonesian coal miner Indika Energy on Friday announced the establishment of a joint venture with plans to manufacture batteries and electric vehicles in Indonesia.


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Article Details

Author / Journalist: ERWIDA MAULIA

Category: InvestingFinanceAsia

Topics: Batteries Venture Foxconn Indika Nikkei Known Electric Asia Content Asian Joint

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-09-23, 10:18:00

News Timezone: GMT +9:00

News Source URL: asia.nikkei.com

Language: English

Reading Time: 1 minutes read

Article Length: 173 words

Coverage Area: Japan

Availability: Desktop Web, Mobile Web

News ID: 491070

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About Nikkei Asia

Nikkei Asia Logo

Main Topics: InvestingFinanceAsia

Official Website: asia.nikkei.com

Update Frequency: 31 posts per day

Year Established: 1876

Headquarters: Japan

News Last Updated: 8h ago

Coverage Areas: Japan

Ownership: Independent Company

Publication Timezone: GMT +9:00

News Language: English

RSS Feed: Available (XML)

Website Security: Secure (HTTPS)

Publisher ID: #19

Publisher Details

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