Foxconn Plans IDR 12.2 Trillion Investment For Electric Vehicle Business In South Taiwan

Foxconn plans to invest IDR 12.2 trillion to set up a new manufacturing facility in southern Taiwan to support its ambitions in electric vehicles (EVs). (photo: twitter @Hon Hai_Foxconn)

JAKARTA - Foxconn plans to invest 25 billion Taiwan dollars (IDR 12.2 trillion) in the next three years to establish a new manufacturing facility south of Taiwan to support its ambitions in the electric vehicle (EV) sector.

The company says that investment in Kaohsiung will include factories to make electric buses and batteries for EVs.

Foxconn, who is the main supplier of Apple Inc and iPhone maker, has big ambitions in the EV market as he seeks to diversify his earnings base.

Foxconn or Hon Hai Precision Industry Co Ltd is a global manufacturing company headquartered in Taiwan. So far, Foxconn is known as a manufacturer of electronic components and is also the main contractor for many of the world's top technology brands, including Apple, HP, Dell, and Sony.

Foxconn products include electronic components such as cables, connectors, batteries, and motherboards, as well as finished products such as smartphones, computers, televisions, and other electronic devices. Foxconn is also involved in the development and production of hardware for the semiconductor industry, medical equipment, and robotics.

In addition, Foxconn also has other businesses outside the technology industry, including real estate, home appliances, and distribution. Foxconn is also expanding its business into the electric vehicle sector, by planning large investments in battery production and electric vehicle components.