Indonesia Energy Firm Indika (INDY) Eyes US$ 2 Billion EV Venture With Foxconn Taiwan

Sumber: Reuters | Editor: Anastasia Lilin Yuliantina

KONTAN.CO.ID - JAKARTA. Indonesia's PT Indika Energy (INDY) is considering jointly investing US$ 2 billion with Taiwan-based Foxconn on electric vehicle (EV) manufacturing, batteries and energy storage. A top Indika executive told Reuters on Wednesday.

Indika like many energy companies has been diversifying its businesses beyond coal amid a global push to end use of fossil fuels. A partnership was established between Foxconn, Indika and three other entities earlier this year in a memorandum of understanding to collectively invest US$ 8 billion in EV and battery manufacturing in Indonesia.