Smartphone making company will now make electric vehicles, will set up a plant in this city of India
Foxconn is exploring the possibility of manufacturing electric vehicles in India. According to reports, the company may set up an electric vehicle manufacturing plant in Tamil Nadu. Young Liu, Chairman and CEO of Foxconn, recently met the Prime Minister of India in Gujarat during SEMICON India 2023. He emphasized that India’s supplier ecosystem has the potential to grow even faster than China’s.
Will bet on electric vehicles
Foxconn has been operating in India since 2005. It is already the world’s largest contract manufacturer of Apple devices and one of India’s leading producers of iPhones. The company has launched a major expansion program to take advantage of the growing demand for electric vehicles and electronic gadgets like smartphones and televisions.
Liu said- “Where there is a will, there is a way. I can feel the determination of the Government of India and am very optimistic about the direction it will take”. He also talked about the growing importance of India in the electronics industry and the strategic partnership between India and Taiwan.
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Will increase production in India
Foxconn’s expansion plan in India aims to bring in billions of dollars of investment and expand its presence beyond its existing 30 factories that collectively generate a turnover of about US$10 billion.