Indonesia said Foxconn Technology Group is considering investing in the country’s new capital. This move would bolster the $34 billion construction project.
The Taiwanese company is considering establishment. They established an electric bus system and an Internet of Things network in Nusantara. Investment Minister Bahlil Lahadalia said in a statement on Sunday.
Young Liu is the president of Hon Hai Precision Industry Co., Foxconn’s flagship unit. Young Liu met with Indonesian President Joko Widodo on Saturday. They discuss the company’s plan to invest $8 billion. Investment is to build a manufacturing plant with electric scooter startup Gogoro Inc. The factory will be built in Central Java province. It will produce batteries and other products related to electric vehicles.
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Liu told Jokowi, as president, know that Hon Hai is happy to help Indonesia.
- They will establish talent training institutions.
- They will provide electric vehicle technologies and products to local partners.
- They also work with them to build an electric vehicle ecosystem, according to a company statement on Saturday.
- They talked about batteries and renewable energy.
- They also exchanged ideas about the electric mobility industry, according to the statement.
Indonesia is trying to capitalize on its large reserves of nickel. Nickel is a key component in batteries, to develop an electric vehicle industry.
The government also plans to move its capital from Jakarta on the island of Java to the island of Borneo. It is plana to build a “green” city that will rely on public transport and use renewable energy.
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