Apple’s biggest contract manufacturer Foxconn aims to double its workforce and investment in India by next year. The Taiwanese company’s India representative V Lee announced the same in a LinkedIn post. In the post Lee also wished Prime Minister Narendra Modi on the occasion of his 73rd birthday. Foxconn is one of the makers of the iPhone and the world’s largest contract manufacturer.
Lee’s birthday wishes for PM Modi
“We will work even harder to present you with a greater birthday gift next year, aiming for another doubling of employment, FDI, and business size in India,” Lee said. However, he did not divulge any further details. Foxconn already has a sizable presence in Tamil Nadu where its factory employs over 40,000 people.
According to a report in Bloomberg, Foxconn’s investment plans include a 300-acre site close to the airport in Bengaluru, the capital of Karnataka. That plant is likely to assemble iPhones and is expected to create about 100,000 jobs.
Hon Hai Chairman Young Liu last month reaffirmed Foxconn’s intention to increase investments in India, where it already operates nine production campuses and more than 30 factories employing tens of thousands of people. The company is in the early stages of expanding further in the country, where it takes in around $10 billion of revenue annually, Liu said.
Announced EV plans
Foxconn recently confirmed that the company is evaluating several states, including Tamil Nadu, for its EV ambitions. “In our last earnings call, chairman Liu had said the company will expand its diversified strategy including in the states of Karnataka and Telangana aside from Andhra Pradesh and Tamil Nadu,” Lee had told ET recently. He said that our key components in India will first and foremost, be to do with consumer electronics. However, next year, there will also be EV key components in India, he added.
Lee’s birthday wishes for PM Modi
“We will work even harder to present you with a greater birthday gift next year, aiming for another doubling of employment, FDI, and business size in India,” Lee said. However, he did not divulge any further details. Foxconn already has a sizable presence in Tamil Nadu where its factory employs over 40,000 people.
According to a report in Bloomberg, Foxconn’s investment plans include a 300-acre site close to the airport in Bengaluru, the capital of Karnataka. That plant is likely to assemble iPhones and is expected to create about 100,000 jobs.
Hon Hai Chairman Young Liu last month reaffirmed Foxconn’s intention to increase investments in India, where it already operates nine production campuses and more than 30 factories employing tens of thousands of people. The company is in the early stages of expanding further in the country, where it takes in around $10 billion of revenue annually, Liu said.
Announced EV plans
Foxconn recently confirmed that the company is evaluating several states, including Tamil Nadu, for its EV ambitions. “In our last earnings call, chairman Liu had said the company will expand its diversified strategy including in the states of Karnataka and Telangana aside from Andhra Pradesh and Tamil Nadu,” Lee had told ET recently. He said that our key components in India will first and foremost, be to do with consumer electronics. However, next year, there will also be EV key components in India, he added.
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