This is realized in a collaboration between Hon Hai Precision Industry Co. Ltd (Foxconn) and Taiwanese electric scooter vendor Gogoro Inc, with two Indonesian companies, namely PT Industri Battery Indonesia (IBC) and PT Indika Energy Tbk.
This cooperation is evidenced by the signing of a commitment in the recent Memorandum of Undestanding (MoU), with a total investment value of 8 billion US dollars.
In more detail, the four collaborations in building an electric vehicle ecosystem in Indonesia include the manufacture of electric vehicle batteries, including the manufacture of battery cells, battery modules, and batteries.
In addition, the scope of cooperation between Foxconn, Gogoro, IBC, and Indika Energy also includes the development of EV support industries which include energy storage systems (ESS), battery exchange/swap stations, recycled batteries, as well as research and development (R&D) in the battery sector. electric and EV.
All of these collaborative projects are expected to generate a total market capitalization of more than US$ 100 billion in Indonesia by 2030.
Investment Minister/Head of the Investment Coordinating Board (BKPM) Bahlil Lahadalia said the signing of this MoU was a continuation of the meeting in Taiwan in October 2021. At that time, Foxconn and Gogoro were interested in developing the battery and electric vehicle industry in Indonesia.
After this commitment to cooperation, Bahlil said that his party would oversee the cooperation, including ensuring the smooth realization of investment from the two Taiwanese companies.