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Foxconn Technology Group, also known as Hon Hai Precision Industry Co., Ltd., is a Taiwanese multinational electronics contract manufacturing company. It is one of the largest electronic manufacturing services (EMS) providers in the world and is renowned for manufacturing products for several prominent technology companies, including Apple, Microsoft, Sony, and many others.
About Foxconn
It was founded in 1974 by Terry Gou and initially focused on producing plastic products. However, the company shifted its focus to electronics in the late 1980s and early 1990s.It gained significant attention and recognition when it became the primary manufacturer of Apple’s iPhones and iPads.
The company’s headquarters is located in New Taipei City, Taiwan, and it has numerous manufacturing facilities and operations globally, including China, India, Vietna
m, Mexico, and the United States, among others. It specializes in electronic components, such as printed circuit boards, connectors, and cables, as well as the assembly of electronic products.
Foxconn and EV
In recent years, it has also been diversifying its operations beyond electronics manufacturing. It has invested in various sectors, including robotics, artificial intelligence, and electric vehicles. The company has announced plans to build manufacturing facilities for electric vehicles and batteries and has entered into partnerships with automobile manufacturers to develop EV technologies.
Foxconn in India
It has a significant presence in India and has been operating in the country for several years. The company has multiple manufacturing facilities in India, primarily located in the states of Tamil Nadu and Andhra Pradesh.
In 2015, it announced a major investment in India, committing to invest around $5 billion over five years to expand its operations and set up new manufacturing facilities. The company’s investments were aimed at supporting the “Make in India” initiative, which seeks to promote local manufacturing and attract foreign investment. It has a significant presence in India and has been operating in the country for several years. The company has multiple manufacturing facilities in India, primarily located in the states of Tamil Nadu and Andhra Pradesh.
In 2015, it announced a major investment in India, committing to invest around $5 billion over five years to expand its operations and set up new manufacturing facilities. The company’s investments were aimed at supporting the “Make in India” initiative, which seeks to promote local manufacturing and attract foreign investment.
Recently, it has also partnered with Vedanta for chip manufacturing in India with a $19.5 billion investment towards its establishment.
Apple has also been increasing its manufacturing footprint in India to take advantage of the country’s favorable business environment and to comply with local sourcingrequirements. In 2017, Foxconn started assembling iPhones in India at its manufacturing facility in Sriperumbudur, near Chennai, Tamil Nadu.
Foxconn Has Eyes Set on the EV Market
Foxconn has been actively involved in the electric vehicle (EV) industry and has shown interest in expanding its operations in this sector. The company has been pursuing partnerships and investments to participate in the growing EV market. Foxconn has been actively involved in the electric vehicle (EV) industry and has shown interest in expanding its operations in this sector. The company has been pursuing partnerships and investments to participate in the growing EV market. Research says that Foxconn may set up an EV manufacturing factory in India this year. It is also believed that Foxconn is so keen on investments in India because of how previously taken decisions of manufacturing iPhones in India flourished.
Refer Here: iPhone-Maker Foxconn to Build Electric Two-Wheeler Factory in India, Reveals Annual Report
