A high-powered Foxconn team, led by chairman Young Liu, has just concluded a controversy-hit week-long India visit. Karnataka and Telangana governments released separate letters of intent signed with Foxconn after the company seemingly downplayed its plans to set up manufacturing plants in two states.
To close the issue, Liu on Monday wrote to the chief ministers of the two states, stressing Foxconn’s commitment to set up electronic manufacturing plants.
The world’s largest contract manufacturer has a $1 trillion investible surplus and it needs semiconductor chips worth $40 billion for its own consumption.
A look into Foxconn’s India journey so far and the road ahead.
Announcements made during Young Liu’s recent India visit
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Current operations in India
- Plant at Sriperumbudur in Tamil Nadu under Hon Hai manufactures iPhones and employs over 35,000 people.
- Plant at Sri City in Andhra Pradesh under Bharat FIH assembles non-Apple brands like Xiaomi. The factory also makes casings, mechanics, components and Printed Circuit Boards Assembly (PCBAs).
- The plant has over 25,000 employees.
India plans and EV ambitions