Apple supplier Foxconn plans to invest an additional 139.11 billion rupees ($1.67 billion) in India's Karnataka state, the state government said in a statement on Tuesday. News 

Karnataka to receive an additional $1.7 billion investment from Foxconn.

(Reuters) – Apple supplier Foxconn plans to invest an additional 139.11 billion rupees ($1.67 billion) in the Indian state of Karnataka, the state government said in a statement on Tuesday. The Taiwanese company, which assembles about 70% of iPhones and is the world’s largest contract manufacturer, has diversified production away from China due to disruptions from COVID-19 and geopolitical tensions. It has rapidly expanded its presence in India over the past year, investing heavily in manufacturing facilities in the southern part of the country. In the state of Karnataka, the…

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Foxconn plans to invest in India's Karnataka state. (Reuters) News 

Foxconn expands its investment in Karnataka, distancing itself from China with an additional $1.7 bn.

According to a statement from the state government on Tuesday, Foxconn, an Apple supplier, intends to inject an extra 139.11 billion rupees ($1.67 billion) into the Indian state of Karnataka. The Taiwanese company, which assembles about 70% of iPhones and is the world’s largest contract manufacturer, has diversified production away from China due to disruptions from COVID-19 and geopolitical tensions. It has rapidly expanded its presence in India over the past year, investing heavily in manufacturing facilities in the southern part of the country. In the state of Karnataka, the…

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iPhones are made in India by multiple vendors like the Tata Group for Apple and the company wants them to increase their production. News 

Tata Group To Power Up Apple’s India Demand With Expanded iPhone Plant!

Apple is looking to increase iPhone production from India in the coming years and is said to want to expand its current lineup to show its focus and ambitions in the country. According to a report in the Economic Times this week, the Tata Group’s iPhone factory will be expanded over the next 18 months, helping the manufacturer double its capacity to produce iPhones for the market. Apple is clearly looking at the Tata Group to step up its game and expand iPhone production, which will directly affect the number…

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Taiwan's Foxconn will invest $1.5 billion in India in its latest expansion plan, the world's largest contract manufacturer of electronics said on Monday. News 

Foxconn Boosts India Presence with $1.5 Billion Investment!

BENGALURU: Taiwan’s Foxconn will invest $1.5 billion in India in its latest expansion plan, the world’s largest electronics contract manufacturer said on Monday. The company that announced the investment plan in the stock exchange application did not provide more detailed information. Foxconn has rapidly expanded its presence in India by investing in manufacturing facilities in the southern part of the country. The contract manufacturer plans to double its workforce and investments in India by next year, the company’s director said in September. The company’s chairman, Liu Young-way, had also said…

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Tax authorities are conducting checks on Foxconn subsidiaries in Guangdong and Jiangsu provinces. (Reuters) News 

Foxconn to Collaborate With China on Investigations

Hon Hai Precision Industry Co., the main assembler of iPhones, has announced its intention to cooperate with Chinese authorities in ongoing investigations. This comes after reports emerged that officials are currently conducting tax audits and examining land usage by its parent company, Foxconn Technology Group Co. Tax authorities are conducting inspections at Foxconn subsidiaries in Guangdong and Jiangsu provinces, the state-run Global Times reported on Sunday, citing unidentified people with knowledge of the matter. According to the report, natural resources authorities are investigating the company’s land use in Henan and…

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Taiwan's Foxconn, the world's largest contract electronics maker, will build a new kind of data centre using Nvidia chips and software for a range of applications including selfdriving cars, the companies said on Wednesday. News 

Foxconn and Nvidia Partner to Construct Artificial Intelligence Facilities

TAIPEI: Taiwan’s Foxconn, the world’s largest contract electronics maker, is building a new kind of data center using Nvidia chips and software for a variety of applications including self-driving cars, the companies said on Wednesday. Foxconn Chairman Liu Young-way and Nvidia CEO Jensen Huang shared the stage at Foxconn’s annual technology showcase in Taipei and said their companies would build these “AI factories” together. “A new type of manufacturing has emerged — intelligence manufacturing. And the data centers that produce it are AI factories,” Huang said, adding that Foxconn had…

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Mukesh Ambani-led Reliance Industries, has held early-stage talks with foreign chipmakers that have the potential to become technology partners (REUTERS) News 

Reliance Industries Investigating Possibility of Entering Semiconductor Manufacturing Industry, Seeking Partnerships: Source

According to two individuals familiar with its plans, Reliance Industries, owned by billionaire Mukesh Ambani, is now considering entering the semiconductor manufacturing industry. This strategic move aims to fulfill the company’s supply chain requirements and meet the increasing demand for chips in India. Encouraged by India’s government, the telecoms-to-energy conglomerate has held early talks with foreign chipmakers with potential technology partners, said one person with direct knowledge of the plans. “There’s an intention, there’s no timeline,” said the person, adding that Reliance has “yet to make a call on whether…

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The failure of Foxconn’s previous attempt with metals company Vedanta underscores how difficult it is to set up new semiconductor plants. (REUTERS) News 

Foxconn and STMicro Collaborate to Construct Chip Factory in India

Foxconn Technology Group and STMicroelectronics NV are joining forces to submit a joint bid for the construction of a semiconductor factory in India. The aim is to secure state support and expand their presence in the South Asian nation. Taiwan’s Foxconn and Franco-Italian STMicro are seeking government support for a 40-nanometer chip factory, people familiar with the matter said, asking not to be identified because the plan is not public. Such mature chips are used in cars, cameras, printers and many other machines. The move comes after Foxconn’s venture with…

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It's now selling two mostly empty buildings in the state. News 

Foxconn’s $10 Billion Wisconsin Investment Now Just a Fading Memory

In 2017, Foxconn made a commitment to invest $10 billion in establishing facilities in Wisconsin, with the expectation of creating up to 13,000 jobs. However, the Taiwanese supplier to tech giants such as Apple is now selling two properties in Eau Claire and Green Bay, which were purchased for nearly $12 million in 2018. Wisconsin Public Radio, as reported by Gizmodo and The Verge, discovered that only three out of the six floors in the Green Bay building are currently being utilized. Additionally, the portion of the mixed-use property in…

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Apple supplier Foxconn's dedicated supply chain arm, Jusda, has opened a new office in the state of Tamil Nadu ahead of the iPhone 15 launch. News 

Foxconn Logistics Subsidiary Jusda Establishes Presence in Tamil Nadu Ahead of iPhone 15 Release

With the release of the iPhone 15 series approaching in September, Foxconn’s logistics department Jusda has opened a new office in Tamil Nadu, India, where iPhones are manufactured. This news comes after V Lee, Foxconn’s representative in India – announced the opening of a new office on LinkedIn. “JUSDA India celebrated the opening of its TN center on August 18, hoping for a successful logistics business in India,” Lee said. He added, “Our sincere thanks go to GoTN, DPIIT, MeiTY and countless dedicated individuals who helped make this beautiful beginning…

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Foxconn in May announced the purchase of a huge tract of land on the outskirts of Indian tech hub Bengaluru for $37 million. (REUTERS) News 

Foxconn Chairman Believes India Could Receive Billions in Investment

On Monday, Foxconn, a major Taiwanese technology company and a key supplier for Apple, announced its intention to invest “several billion dollars” in India. The company aims to shift its manufacturing operations from China in order to diversify its production. Foxconn – also known by its official name Hon Hai Precision Industry – is the world’s largest contract electronics manufacturer and assembles equipment for many companies, notably Apple’s iPhones. It operates in more than two dozen countries, but most of its operations are based in China — a dependency it…

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Foxconn will reportedly provide Apple with servers made in Vietnam to train and implement its AI services, Taiwan's Economic Daily News reported. AI 

Foxconn-Manufactured Servers to be Utilized for Testing Apple’s AI Services: Report

Apple is said to be a bit behind its competitors when it comes to generative artificial intelligence, but now it seems that the iPhone maker is preparing to test its artificial intelligence services using Foxconn-made servers. According to a report in Taiwan’s Economic Daily News’ South China Morning Post, Foxconn is supplying Apple with servers made in Vietnam to train and implement AI services. This is another step by Apple to diversify its production away from China. For the uninitiated, Foxconn is Apple’s largest supplier of iPhones, and according to…

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Apple's main supplier, Foxconn Technology Group, is planning to invest close to $500 million to build two component factories in India, Bloomberg News reported on Monday, citing people familiar with the matter. News 

Foxconn to Invest $500 Million in India for Component Manufacturing Plants

According to Bloomberg News, individuals familiar with the matter have reported that Foxconn Technology Group, Apple’s primary supplier, intends to invest nearly $500 million in constructing two component factories in India. Those factories will be built in the southern state of Karnataka, and at least one of them will make Apple parts, including for iPhones, according to the report. The exact locations of the new plants in the state are yet to be decided, and an official announcement is expected as early as this week. Foxconn and Apple did not…

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The presence of major chipmakers at the conference indicates that India is becoming an attractive destination for semiconductor companies. It shows that the Indian government's efforts to promote the semiconductor industry and create a conducive business environment are gaining traction News 

PM Modi Launches Semicon India 2023 | Impact of Chipmakers’ Attendance on India

Prime Minister Narendra Modi announced on Friday that India is warmly welcoming the semiconductor industry, as he inaugurated the Semicon India conference’s 2023 edition at Mahatma Mandir in Gandhinagar, Gujarat. “The first edition of this summit discussed why companies should invest in the semiconductor sector in India, but now the question has changed – why not invest,” PM Modi said. He added, “India knows that semiconductor is not only about our need but the world also needs a reliable and trustworthy supply chain supplier who is a better partner than…

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A Foxconn subsidiary is in talks with India's Tamil Nadu state to invest up to $200 million to build a new plant for electronic components in the southern region, two sources with direct knowledge told Reuters on Wednesday. News 

Foxconn Subsidiary Reportedly Negotiating To Establish $200 Million Components Facility In Tamil Nadu, India

According to two sources familiar with the matter, a subsidiary of Foxconn is currently engaged in discussions with the Tamil Nadu state in India to potentially invest $200 million in constructing a new facility for electronic components in the southern region. Foxconn Industrial Internet (FII) CEO Brand Cheng and other company representatives met Tamil Nadu officials, including its chief minister, last week to discuss investment in the state, the government said in a statement after the meeting, but did not elaborate. FII, which makes telecom, mobile network and cloud computing…

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Some industry experts suggest that India should continue to prioritise boosting electronics manufacturing to meet local consumption demands and attempt to become a global manufacturing hub for international demand News 

Foxconn-Vedanta Split Does Not Impact India’s Semiconductor Ambitions – Here’s How

Taiwan’s Foxconn has decided to pull out of the $19.5 billion semiconductor joint venture with Indian mining company Vedanta, causing surprise and uncertainty about India’s semiconductor ambitions. However, both the government and Vedanta’s CEO, Anil Agrawal, have expressed a different perspective on the matter. Interestingly, this decision came shortly after US chip maker Micron Technologies signed a Memorandum of Understanding (MoU) with the Gujarat government. It is worth noting that the Vedanta-Foxconn joint venture had plans to establish its plant in the same state. The announcement of the split has…

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Taiwan's Foxconn said on Monday it has withdrawn from a $19.5 billion joint venture with Indian metal-steel conglomerate Vedanta. News 

Foxconn Abandons $19.5 Billion Investment in Vedanta Semiconductor Project in India

In a setback to Prime Minister Narendra Modi’s chipmaking plans for India, Taiwanese company Foxconn announced on Monday that it has pulled out of a $19.5 billion joint venture with Indian conglomerate Vedanta, which focuses on metals-to-oil industries. Foxconn, which did not say why it had made the decision, and Vedanta signed an agreement last year to set up semiconductor and display manufacturing facilities in Modi’s home state of Gujarat. “Foxconn has decided not to move forward with the joint venture with Vedanta. Foxconn is seeking to remove the Foxconn…

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The Indian government met large global firms such as Foxconn, Samsung Electronics and Reliance Industries to find ways to boost manufacturing in the country with its productionlinked incentive (PLI) scheme. News 

Government of India Discusses PLI Scheme Enhancements with Foxconn, Samsung, Wistron – Report

In an effort to enhance manufacturing in India through its production-linked incentive (PLI) program, the Indian government held discussions with major global corporations including Foxconn, Samsung Electronics, and Reliance Industries. India’s Commerce Minister Piyush Goyal spoke at a meeting on Tuesday to worry that some companies had experienced delays in taking advantage of New Delhi’s incentives amid complex procedures. Discussions covered ways to improve local production at competitive costs, higher domestic production value added and speedy handling of complaints, the government said in a statement on Wednesday. The meeting was…

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The car manufacturer previously declared a $171.1 million loss for 2023's first quarter. News 

Lordstown Motors files for bankruptcy and takes legal action against Foxconn

Lordstown Motors is experiencing a tumultuous day, as the electric vehicle company from Ohio has submitted a request for Chapter 11 bankruptcy protection in an attempt to locate a purchaser. Additionally, the company is taking legal action against its investment partner, Foxconn Technology, for violating the contract and committing fraud. Lordstown alleges that Foxconn’s actions were deliberate and aimed at ruining the operations of an American startup. Foxconn, known primarily for assembling Apple’s iPhones, bought the Lordstown, Ohio plant in late 2021 (around the time General Motors jumped on board)…

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The project is expected to generate employment for at least 50,000 people in the state. Taiwan-based Foxconn plans to manufacture 2 crore iPhone units annually at the plant after the completion of three phases News 

iPhone manufacturer Foxconn to acquire 300 acres of land in Bengaluru by July 1; Will release first phone in April 2024

The Siddaramaiah-led Congress government in Karnataka will hand over 300 acres of land to iPhone maker Foxconn by July 1 to set up a manufacturing unit for the smartphone giant in Bengaluru. Minister of Large and Medium Industries M.P. Patel said the Taiwanese electronics giant will start manufacturing iPhones at Devanahalli’s Bengaluru unit by April 2024. The government says the Rs 13,600 crore project has accelerated the pace of the project and the designated land will be made available to Foxconn by next month. The project is expected to provide…

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