Foxconn to develop EV industry in Indonesia this year: minister

JAKARTA, Aug. 10 (Xinhua) -- Indonesia's Investment Minister Bahlil Lahadalia said Wednesday that China's Taiwan region's tech giant Hon Hai Precision Industry, widely known as Foxconn, had signed a deal with the government and a domestic private company to establish an electric vehicles (EV) industry in the country.

"Regarding the investment process, we (Indonesia and Foxconn) are currently doing a feasibility study. We plan to start the ground breaking by the end of this year," Lahadalia said in a virtual talkshow, adding that the MoU for the investment was signed last month.