Foxconn informed that the company would delay the construction of an electric vehicle (EV) factory in Indonesia due to internal problems.
Previously, Foxconn planned to build an EV Bus factory in the Batang Industrial Area in Central Java in early 2023. This plan was presented by Foxconn Chairman Young Liu, at the B20 event in Indonesia.
“They will enter the car ecosystem, especially buses, and they will invest in the car battery ecosystem, he said.
Bahlil Lahadalia, Minister of Investment, said that there was an internal problem in the company. Then, the continuation of the groundbreaking will be determined later.
“Maybe the dynamics are almost finished, and when it’s finished, then the groundbreaking time will be determined, we will convey it later,” he said.
Bahlil confirmed that Foxconn’s factory construction will continue this year. However, it has not been able to convey the implementation time in detail.
Foxconn plans to make investment in IKN
Liu said that Indonesia was very different 20 years ago. Previously, he had explored investing in Indonesia. However, there are some unresolved issues.
“Now we are able to complete matters such as land, incentives, then permits, as well as other facilities needed as long as they comply with the elements of the rules,” said Bahlil.
On the other hand, Foxconn also plans to invest US$ 8 billion to develop electric vehicle batteries in Indonesia, as well as investment in the technology sector in the National Capital (IKN).
