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.
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.
