Foxconn Eyes India As It Plans $700 Million Investment In New Plant For iPhone Production

Edited By: Shaurya Sharma

Last Updated: March 03, 2023, 12:33 IST

Foxconn could be looking at producing iPhone parts on a 300-acre site located near Bengaluru. (Photo: Foxconn)

Foxconn might be taking a look at producing iPhone elements on a 300-acre web site positioned close to Bengaluru. (Photo: Foxconn)

Foxconn Technology Group, a serious producer for Apple’s iPhone, is reportedly planning to take a position as much as $700 million to construct a brand new plant in India.

Foxconn Technology Group, a serious producer for Apple’s iPhone, is reportedly planning to take a position as much as $700 million to construct a brand new plant in India. This transfer is seen as an effort to extend manufacturing within the nation whereas lowering reliance on services in China attributable to escalating geopolitical tensions between Washington and Beijing. 

According to Bloomberg, Foxconn might be taking a look at producing iPhone elements on a 300-acre web site positioned close to Bengaluru, Karnataka. And, as per experiences, the plant might additionally help Foxconn’s electrical automobile ambitions, which have been laying dormant.

Amidst the rising geopolitical points, India has emerged as a possible vacation spot for performing as a producing hub for firms together with Foxconn. This transfer might probably create as much as 1,00,000 jobs in India—shifting the digital elements manufacturing hub away from China.

Last November, Foxconn’s Zhengzhou facility, generally known as the largest Apple iPhone manufacturing unit globally, confronted challenges with COVID-19 restrictions resulting in important downtime, impacting iPhone manufacturing. A brand new plant in India would mitigate the influence of any future occasions on the worldwide provide chain by lowering dependence on a single facility.

Foxconn has additionally been wanting ahead to enterprise into the EV market, and now that it has already showcased its Model C EV for the Taiwanese market, the corporate might be probably taking a look at India to carry its EV desires into fruition.

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Source web site: www.news18.com

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