Foxconn Seeks Chip And EV Collaboration With India

Following a visit to India by its chairman, Liu Young-way, major Apple Inc supplier Foxconn announced today that it was seeking cooperation in new areas such as chips and electric vehicles (EVs). After China's strict Covid-19 restrictions disrupted the production of new-model iPhones and other devices, and amid tensions between Beijing and Washington, Apple has been shifting production away from the country. According to India's trade minister, Apple, which began iPhone assembly in the country in 2017 through Wistron Corp and later Foxconn, wants India to account for up to 25% of its production, up from 5% to 7% now.

Foxconn, the world's largest contract electronics manufacturer and formally known as Hon Hai Precision Industry Co Ltd, confirmed Liu's visit to India. "My trip this week aided Foxconn's efforts to strengthen partnerships, meet old and new friends, and seek collaboration in new areas such as semiconductor development and electric vehicles," Liu said in a statement. Foxconn has ambitious plans to manufacture EVs as well as chips. "Foxconn will continue to communicate with local governments to seek the most beneficial development opportunities for the company and all stakeholders on the basis of sharing, collaborating, and thriving together," Liu added.

He made no mention of any new concrete investment plans for the country, and Foxconn has made no such announcements since his visit. Apple's iPhones will soon be assembled in another location in the southern Indian state of Karnataka, and 300 acres (120 hectares) have been set aside for this purpose.