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.
Technology
Foxconn forms Indonesian JV for EV and battery manufacturing
Taiwanese group partners with coal miner Indika Energy in diversification push
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. (Photo courtesy of Indika Energy)
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