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wrote a post10/25/2021 17:33

Apple Supplier Foxconn Said To Be In Talks With Indonesia For EV Investment

Key $Apple(AAPL.US)$  supplier $HON HAI PRECISION INDUSTRY SPON GDS EACH REP 2 SHS TWD10 REG'S'(HNHPF.US)$  and an Indonesian government agency last week held discussions related to a possible electric vehicle investment in the country, Nikkei Asia reported on Sunday.The investment, if it goes through, would be a huge boost for Indonesia as it looks to diversify itself as a key player in the global electric vehicle supply chain.

Foxconn last week revealed three electric vehicle prototypes that include a sedan, a sports utility vehicle and bus, and said it aims to turn electric vehicles into a $35 billion business in five years.
The Apple supplier had earlier this month confirmed a deal with pre-production electric vehicle startup $Lordstown Motors(RIDE.US)$ to buy its Ohio assembly plant and build electric vehicles there for its partner $Fisker(FSR.US)$
Indonesia is also the largest producer of nickel, a key ingredient used in making electric vehicle batteries.
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