Foxconn plans to manufacture electric vehicles in India
POWER & RENEWABLE ENERGY

Foxconn plans to manufacture electric vehicles in India

Foxconn is looking at manufacturing electric vehicles (EVs) in India, part of a larger diversification plan to expand its Asian manufacturing supply chain beyond China.

Foxtron, the Taiwanese electronics giant’s EV venture, may consider manufacturing in India in addition to other locations in South East Asia such as Indonesia and Vietnam.

Currently, in addition to an exclusive unit— outside Chennai — manufacturing Apple’s phones, Bharat FIH, previously known as Rising Stars Mobile India, a Foxconn Technology Group Company operates another facility nearby, which manufactures Chinese brands phones including Xiaomi.

Foxconn has shown interest as a group in manufacturing other lines — their own for their customers — apart from the phones that they presently manufacture.

The Tamil Nadu government is looking to further infuse in the state.

EVs are a relatively new segment for Foxconn. It purchased a factory in the US to produce electric vehicles for the North American market last year and will also utilise the unit to contract-manufacture for clients like hybrid EV brand Fisker.

The company said in its annual report for 2021 that Foxconn will look to replicate this localisation model elsewhere in other markets such as South-East Asia in the future.

Taiwanese major is also looking at the potential demand for EVs in the Indian market.

There was no plan to manufacture in India initially but now Foxconn has been examining the Indian automotive market and is considering foraying into India as well as Vietnam and Indonesia to develop its manufacturing facility in other markets.

Sales of passenger electric cars in India increased over 2.5 times to 17,804 units in FY22, highlighting strong demand for green variants, according to a release from the Federation of Automobile Dealers Association (FADA).

Image Source

Also read: Ather Energy partners with Foxconn arm for sourcing EV components

Foxconn is looking at manufacturing electric vehicles (EVs) in India, part of a larger diversification plan to expand its Asian manufacturing supply chain beyond China. Foxtron, the Taiwanese electronics giant’s EV venture, may consider manufacturing in India in addition to other locations in South East Asia such as Indonesia and Vietnam. Currently, in addition to an exclusive unit— outside Chennai — manufacturing Apple’s phones, Bharat FIH, previously known as Rising Stars Mobile India, a Foxconn Technology Group Company operates another facility nearby, which manufactures Chinese brands phones including Xiaomi. Foxconn has shown interest as a group in manufacturing other lines — their own for their customers — apart from the phones that they presently manufacture. The Tamil Nadu government is looking to further infuse in the state. EVs are a relatively new segment for Foxconn. It purchased a factory in the US to produce electric vehicles for the North American market last year and will also utilise the unit to contract-manufacture for clients like hybrid EV brand Fisker. The company said in its annual report for 2021 that Foxconn will look to replicate this localisation model elsewhere in other markets such as South-East Asia in the future. Taiwanese major is also looking at the potential demand for EVs in the Indian market. There was no plan to manufacture in India initially but now Foxconn has been examining the Indian automotive market and is considering foraying into India as well as Vietnam and Indonesia to develop its manufacturing facility in other markets. Sales of passenger electric cars in India increased over 2.5 times to 17,804 units in FY22, highlighting strong demand for green variants, according to a release from the Federation of Automobile Dealers Association (FADA). Image Source Also read: Ather Energy partners with Foxconn arm for sourcing EV components

Next Story
Real Estate

Sources Unlimited Launches Aurora Collection Inspired by Twilight

Sources Unlimited unveils the Aurora Collection, a luxury lighting series inspired by the soft glow before dawn. Featuring spherical forms and metallic accents, the collection plays with reflections and shadows, enhancing interiors with layered illumination. Designed for floors, tables, ceilings, and walls, Aurora seamlessly integrates into diverse spaces, from homes to hospitality settings. Now available at Sources Unlimited, the collection redefines lighting as an artistic medium, transforming spaces with warmth, nostalgia, and timeless beauty...

Next Story
Real Estate

Build Capital Exits Second SRA Project Investment Near BKC

Build Capital has successfully exited its investment in an SRA project near Bandra-Kurla Complex, marking another milestone in its structured real estate financing strategy. The early-stage investment helped the developer complete rehab work and align the project with DCPR 2034, enhancing total economics. With a 2.25 lakh sq. ft. development potential and projected revenue of over Rs 7.25 billion, the project generated a 19.76 per cent IRR with 100 per cent on-time interest payments. Commenting on the milestone, Kuldeep Jain, CEO of Build Capital, stated: “Our strategic funding and acti..

Next Story
Real Estate

Küche7 Unveils Affogato: A Fusion of Luxury and Function

Küche7, India’s luxury stainless steel kitchen specialist, has launched Affogato, a sculptural kitchen design that merges aesthetics with functionality. Featuring deep brown panels with a brownstone texture, a curved marble-topped island, and a seamlessly integrated gas cooktop, Affogato redefines culinary spaces. Thoughtfully designed storage ensures a clutter-free experience, while soft grey flooring and an inlaid ceiling complete its refined appeal. More than a kitchen, Affogato embodies slow li..

Advertisement

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Advertisement

Talk to us?