Foxconn Expands Footprint in India with Plans for Electric Cars and iPhone Manufacturing
Taiwanese electronics manufacturer Foxconn, known for its association with Apple's iPhone production, is making significant strides in India's automotive and technology sectors. The company has expressed its intentions to enter the electric vehicle (EV) manufacturing space and expand its iPhone manufacturing operations in the country.
Foxconn is reportedly engaged in discussions with various state governments in India, exploring potential partnerships and opportunities for EV manufacturing. A delegation from India is expected to visit Taiwan to meet with Foxconn executives and discuss the company's plans. The exact nature of Foxconn's involvement in the EV sector, whether through contract manufacturing for multiple brands or a joint venture with a single brand, is yet to be determined.
While Foxconn has an existing partnership with electric scooter-maker Ather Energy, it is actively seeking additional partnerships as it ventures into the EV space. Sources suggest that the company might collaborate with an Indian auto giant for this purpose. In the past, top Foxconn executives met with officials from Maharashtra, Telangana, Tamil Nadu, and Andhra Pradesh to discuss EV plans. While Maharashtra and Tamil Nadu are considered potential locations due to existing manufacturing hubs and incentives, Telangana's active outreach efforts make it an attractive contender.
Foxconn aims to establish a comprehensive vertical platform encompassing manufacturing, hardware, component manufacturing, and battery management for EVs. The company plans to collaborate with local firms to realize this vision. In its annual report, Foxconn stated that India would assist in establishing a production line specifically for two-wheeler EV manufacturing this year, aligning with India's commitment to achieving net-zero emissions, as emphasized by Prime Minister Narendra Modi during Foxconn Chairman Young Liu's visit to India.
In parallel to its EV endeavors, Foxconn has announced plans to manufacture iPhones in Bengaluru starting in April 2024. The company has secured 300 acres of land in Devanahalli, Bengaluru, for this purpose. The project, with an estimated investment of Rs 13,600 crore, aims to create 50,000 jobs. Foxconn has already paid a portion of the land cost and will proceed with the project in three phases, targeting an annual production capacity of 20 million units upon completion.
The Minister for Large and Medium Industries, MB Patil, confirmed the state government's support for the iPhone manufacturing project, pledging to provide necessary infrastructure, including land, water supply, power, and connectivity. Foxconn has been requested to provide details of the required skill sets, enabling the government to facilitate training programs to enhance the employability of potential candidates.
Foxconn's expansion in India signifies the company's commitment to bolstering the country's EV and electronics manufacturing capabilities. With its expertise and partnerships, Foxconn aims to contribute to India's growth in sustainable transportation and smartphone production while generating employment opportunities for thousands of individuals.
(Disclaimer: The content has been paraphrased from original articles sourced from businesstoday.in while maintaining the factual information.)
