Hon Hai Plans to Build Complete Battery Industry Ecosystem in Indonesia

As reported by Chinese media ijiwei, Hon Hai Technology Group, the parent company of electronics giant Foxconn, issued a statement saying its Chairman Liu Yangwei and Gogoro Founder Lu Xuesen have met with Indonesia’s investment minister, and the three parties had preliminary exchanges and discussions regarding future investment in Indonesia, with the electric vehicle and battery industries at the core.

Hon Hai suggests that Indonesia’s investment minister said during the meeting that he was very much looking forward to Hon Hai and Gogoro investing in the country, and that they would provide relevant incentives to support Hon Hai’s future operations there.

Indonesian government considers the battery industry an important orientation for building the green economy and sustainable ‘blue’ economy, referring to maritime preservation. For its part, Indonesia is in active contact with Hon Hai, hoping to leverage its strength in EVs to assist industrial transformation there.

Three EVs were released on Hon Hai Technology Day on October 18 this year. Hon Hai said that these three vehicles are developed as platform reference prototypes for customers to use as reference models when planning their own products, and they will be subsequently adjusted according to customers’ needs, and the vehicles will be put on the market after adjustment.

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At present, Hon Hai is stepping up its layout in the EV field. In September, Lordstown Motors, a U.S. EV maker, struck a deal with Hon Hai to sell its plant and equipment in Ohio. Liu Yangwei also revealed that he intended to set up EV plants in Europe, India and South America before 2024.