Foxconn targets India as next EV production powerhouse
POWER & RENEWABLE ENERGY

Foxconn targets India as next EV production powerhouse

India is being considered by Foxconn Technology Group as its third worldwide base for contract manufacturing of electric vehicles (EVs).

According to a study, the Taiwanese corporation plans to provide five to seven lakh EVs by 2025, or 5% of all electric car sales globally. The corporation has previously paid $230 million for a US manufacturing facility in Ohio that has the capacity to produce 5–6 lakh automobiles annually.

In addition, the business runs an EV plant in Thailand and is getting ready to expand into the passenger car industry. There are also continuing discussions with Indian state governments about a potential EV factory that would make use of Foxconn's strong domestic electronics manufacturing capabilities.

Additionally, it has partnered with Yulon Motors, the biggest manufacturer in Taiwan, to produce the Luggen 7 brand's first EV this year. Outside of China, Foxconn generates about 30% of its revenue. According to the business, it was also thinking about opening plants in Mexico, Vietnam, Indonesia, and Europe.

According to experts, Foxconn can profit from the increased competition in the EV market that compelled Tesla, owned by Elon Musk, to lower the price of its vehicles. Notably, new businesses that lack manufacturing expertise or the ability to navigate the supply chain can nonetheless outsource production.

Redefine the future of urban mobility! Join us at the Metro Rail Conference 2025 to explore groundbreaking ideas and insights. 👉 Register today!

India is being considered by Foxconn Technology Group as its third worldwide base for contract manufacturing of electric vehicles (EVs). According to a study, the Taiwanese corporation plans to provide five to seven lakh EVs by 2025, or 5% of all electric car sales globally. The corporation has previously paid $230 million for a US manufacturing facility in Ohio that has the capacity to produce 5–6 lakh automobiles annually. In addition, the business runs an EV plant in Thailand and is getting ready to expand into the passenger car industry. There are also continuing discussions with Indian state governments about a potential EV factory that would make use of Foxconn's strong domestic electronics manufacturing capabilities. Additionally, it has partnered with Yulon Motors, the biggest manufacturer in Taiwan, to produce the Luggen 7 brand's first EV this year. Outside of China, Foxconn generates about 30% of its revenue. According to the business, it was also thinking about opening plants in Mexico, Vietnam, Indonesia, and Europe. According to experts, Foxconn can profit from the increased competition in the EV market that compelled Tesla, owned by Elon Musk, to lower the price of its vehicles. Notably, new businesses that lack manufacturing expertise or the ability to navigate the supply chain can nonetheless outsource production.

Next Story
Real Estate

Colliers India Transacts 207,000 sq ft office space at Embassy TechVillage

Embassy Office Parks REIT, India’s first listed REIT and the largest office REIT in Asia by area, announced that it has signed an Agreement to Lease (‘ATL’) with global cyber security company Rubrik at Embassy TechVillage in Bengaluru.Colliers, a leading global diversified professional services company, specialising in commercial real estate services, engineering consultancy and investment management facilitated the transaction for Rubrik.Located on Bengaluru’s Outer Ring Road, Embassy TechVillage is one of Embassy REIT’s flagship office parks which offers world-class office spaces, ..

Next Story
Infrastructure Urban

Ensemble Infrastructure India Appoints Suman Saha as Director of Design

Ensemble Infrastructure India Ltd, a leading workplace design and build fit-out company, has appointed Suman Saha as its new Director of Design. With 25 years of experience in the industry, Suman is recognized for his innovative approach and excellence in design leadership.Working closely with the CEO, Suman’s appointment will enhance the company’s design communication across multiple touchpoints, ensuring smooth collaboration between clients, designers, and execution teams for superior project outcomes. Under his guidance, Ensemble will focus on creating workspaces and design labs that em..

Next Story
Products

Ribbon Vanity by Küche7: Fluid Design Meets Everyday Elegance

Küche7, pioneers in luxury stainless steel kitchens, have unveiled the Ribbon Vanity, a graceful creation that transforms bathroom spaces with its soft, flowing design and understated sophistication. Inspired by the fluid form of a ribbon, this vanity combines smooth finishes, clean lines, and gentle curves, offering a timeless aesthetic that seamlessly complements diverse interior styles.Available in a refined blush pink hue, the Ribbon Vanity effortlessly merges functionality with elegance. With thoughtfully designed storage options, it ensures that bathroom essentials are neatly organised ..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000