Bollore's Blue Solutions signs MoU with Foxconn and SolidEdge to develop bike batteries

Foxconn logo is seen in this illustration taken, May 2, 2023. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - French battery maker Blue Solutions, a unit of Bolloré Group, has signed on Tuesday a memorandum of understanding (MoU) with Taiwan's Foxconn , and its subsidiary SolidEdge to develop solid-state batteries for electric bikes.

The groups said in a joint statement the collaboration will initially target Indonesia, where the market goal is to reach 13 million electric bikes by 2030.

(This story has been corrected to fix the name and location of Foxconn in paragraph 1)

(Reporting by Pierre John Felcenloben, Editing by Louise Heavens)