Foxconn Partners With Indonesia to Make Electric Cars

Foxconn Technology Group, the world's largest electronics contract manufacturer, announced it will partner with Indonesia’s Ministry of Investment (BKPM) and three companies to work on electric vehicle (EV) production in the resource-rich Southeast Asian country.

This is the latest EV-related development for the Taiwan-based iPhone assembler, formally known as Hon Hai Precision Industry Co. Ltd., which in October showcased three self-designed EV models (link in Chinese). Chairman Yang-wei Liu said he expected the EV business to make up 5% of the company’s total revenue by 2025.