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Foxconn plans to invest $700 million in a new factory in India to make Apple iPhone parts
Apples OEM Foxconn plans to invest around $700 million (currently around R4.837 billion) in a new factory in India to boost local production.
Apple's OEM Foxconn plans to invest around $700 million (currently around RMB 4.837 billion) in a new factory in India to boost local production, people familiar with the matter said on March 3.
Foxconn plans to build an iPhone parts factory on a 300-acre site near Bangalore airport, the capital of the southern Indian state of Karnataka, according to people familiar with the matter. Foxconn could also use the plant to produce some parts for its fledgling electric car business. The new production site is expected to create around 100,000 jobs. By comparison, Foxconn's Zhengzhou iPhone assembly plant currently employs around 200,000 people, although the number of employees will surge during the peak production season.
People familiar with the matter said the plans are still subject to change as Foxconn is finalising investment and project details. It is also unclear whether the plant represents new capacity or whether it is capacity that Foxconn is transferring from elsewhere, such as its Chinese factories. In an effort to boost manufacturing in the country, India has offered financial incentives to Apple suppliers such as Foxconn. Foxconn began producing the latest generation of iPhones at a factory in Tamil Nadu last year. smaller Foxconn rivals Wistron and PEGATRON are also expanding their operations in India. Apple suppliers such as Jabil Technology have begun producing components for AirPods there.
Time:2024-11-18
Time:2024-11-18
Time:2024-11-18
Time:2024-11-18
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