Apple supplier Foxconn says it is seeking Indian partners to cooperate in areas such as chips and electric vehicles
Taiwan’s Foxconn has been looking to expand its operations in the South Asian giant after suffering severe supply disruptions in China last year. The firm bounced back from the disruptions early this year. “India is a country with a large population,” Young Liu, the company’s chairman and CEO, said in a Saturday statement. “My trip this week supported Foxconn’s efforts to deepen partnerships … and seek cooperation in new areas such as semiconductor development and electric vehicles.
On Friday, the investment promotion office of the southern Indian state of Karnataka said Foxconn had announced a major deal there and that 300 acres of land had been allocated for a facility. The investment will generate 100,000 jobs over 10 years in the state, it said. According to a report from Bloomberg citing unnamed sources, the company plans to invest about $700 million on a new plant in Bengaluru, the capital of Karnataka, to make iPhone parts.
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