: Foxconn partners Indonesia to develop electric vehicles #IndiaNEWS #Automobile The Taiwan-based automobile company, Foxconn has revealed that it has partnered with Indonesias Investment Ministry and

@IndiaNEWS

Posted in: #IndiaNEWS #Automobile

Foxconn partners Indonesia to develop electric vehicles #IndiaNEWS #Automobile
The Taiwan-based automobile company, Foxconn has revealed that it has partnered with Indonesias Investment Ministry and several companies to support the development of electric cars and parts in the Southeast Asian country, adding to a string of such deals by the iPhone assembler.



The Taiwan-based company stated that its has signed a memorandum of agreement with Indonesias Ministry of Investment, Indonesias battery company, and energy companies PT Indika Energy (INDY.JK) and Gogoro on a variety of electric vehicle projects, including battery production.



The agreement intends to create a modern energy ecosystem in Indonesia and includes the development of supporting sectors such as energy storage systems, switching stations, and electric car recycling.



The cooperation will give enterprises in Indonesia with an open MIH platform that will supply both hardware and software services, according to the announcement, which did not specify the magnitude of the investment or production goals.



Chairman Liu Young-way said Foxconn plans to supply components or services to 10% of the worlds electric vehicles by 2025 to 2027, promising to cut manufacturing and other expenses for carmakers with its assembly know-how as the worlds largest contract electronics manufacturer.



Recently, Foxconn, Apples main iPhone maker, has increased its involvement in electric vehicles (EVs), announcing partnerships with U.S. startup Fisker Inc and Thailands energy giant PTT PCL.



Stellantis and iPhone assembler Foxconn launched a strategic relationship last month to develop specialized semiconductors for the automobile and third-party clients. Both firms plan to develop four new chip families that will meet more than 80% of the brands semiconductor requirements. In addition, the alliance will aid the automaker in modernizing components, reducing complexity, and streamlining the supply chain.



According to the Stellantis CEO, Carlos Tavares, maintained that rise innovate.



“This will also boost our ability to innovate faster and build products and services at a rapid pace.



 



 

Intraday stocks under 50 NSE India Twitter of India

Vote Up Vote Down

Login to post a comment!