22 April 2024

FACTBOX-Taiwanese giant Foxconn's growing interest in India

2 min read

Foxconn has rapidly expanded its presence in India by investing in locations in the south of the country for its manufacturing facilities, as the Taiwanese giant seeks to move away from China. Foxconn, the leading contract manufacturer of electronics, already has an iPhone factory in Tamil Nadu, which employs 40,000 people.

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Here are some of the areas where the company has invested, according to announcements and sources familiar with its plans. APPLE ASSEMBLY

Foxconn plans to make casing components for iPhones at a new Karnataka facility with $350 million in investment that will generate 12,000 jobs. It also won an order to make AirPods for Apple and plans to build a factory in India to produce the wireless earphones, two people with direct knowledge of the matter told Reuters in March.

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CHIP-MAKING TOOLS Foxconn said on Wednesday it will tie up with Applied Materials for a $250 million project to make chip-making tools in Karnataka, creating jobs for around 1,000 people.

MOBILE COMPONENTS Foxconn has signed a deal on Monday with southern state of Tamil Nadu to invest 16 billion rupees ($194 million) in a new electronic components manufacturing facility that will create 6,000 jobs.

CHIP-MAKING Foxconn is in talks with Prime Minister Narendra Modi’s home state Gujarat over a semiconductor plant, a top government official told Reuters last month, days after the Taiwanese giant broke off a $19.5 billion joint-venture plan with India’s Vedanta.

ELECTRIC VEHICLE Foxconn’s venture to attempt to build a standardised electric vehicle platform is targeting India or Thailand for the production of a small battery-powered car under development, the unit’s chief executive told Reuters. (Compiled by Tanvi Mehta; editing by Barbara Lewis)

(This story has not been edited by staff and is auto-generated from a syndicated feed.)