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Foxconn confirms India investment plan in letter to Karnataka government
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Foxconn confirms India investment plan in letter to Karnataka government
Mar 6, 2023 9:54 AM

Apple Inc. supplier Foxconn Technology Group confirmed its intention to set up a new plant in India’s Karnataka in a letter to the state’s officials dated Monday.

Young Liu, chairman of Foxconn’s flagship unit Hon Hai Precision Industry Co., thanked Indian officials for their cooperation and said his company would work toward “successful grounding” of the manufacturing site project, according to the letter viewed by Bloomberg News. The letter, addressed to Karnataka Chief Minister Basavaraj Bommai, stopped short of guaranteeing a plant will be constructed and didn’t include investment amounts.

Foxconn is planning to invest about $700 million in a new plant in India to ramp up local production of iPhone parts and potentially other items, Bloomberg News reported last week. The plant could also be used to assemble handsets for Apple and make some parts for the company’s nascent electric vehicle business.

Also Read: Foxconn Chairman Young Liu meets PM Modi for second time in 8 months

A Foxconn delegation toured a site reserved for a new plant, dubbed “Project Elephant,” in the city of Bengaluru in Karnataka last week and discussed investment details with local officials, according to the letter. While Liu didn’t mention Apple in the letter, he said he is confident a successful project would bring the company to consider Karnataka for investments in electric vehicles and semiconductors.

“It was great to note the infrastructure readiness timelines, Government of Karnataka’s support for skilling and talent acquisition and the availability of social infrastructure around the region where the plot is earmarked for the project,” Liu said in the letter.

Foxconn didn’t immediately respond to an email seeking comment.

Earlier last week, Foxconn also signed an agreement with the government of Telangana to establish a manufacturing facility with the potential to generate employment for over 100,000 people over the next 10 years.

Also Read: Foxconn expands operations in Telangana with new electronics manufacturing plant, set to provide 1 lakh jobs

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