
Indian States Cheer Foxconn to Set-Up EV Factory

Indian states are supporting Foxconn in setting up its proposed electric vehicle factory in their jurisdiction, as its chief executive Young Liu displayed strong intent to redouble its investments in the country to deepen his firm’s global supply chain systems.
As per reports, Tamil Nadu, housing Foxconn’s manufacturing units for Apple iPhones and others, suggested that the company take over the 350 acre factory, which is due to be shuttered by the American car maker Ford. It’s unknown whether Foxconn evaluated the Ford factory.
The report added that Foxconn offered an alternative site at an electric vehicle (EV) park it is developing in Manallur, as well as Hosur.
During Liu's visit to India, representatives from Maharashtra, Telangana, and Karnataka met with him, while Tamil Nadu and Gujarat arrived in Delhi the following day.
The company appears to be investing in multiple things such as wearables, EVs, and the like for which they are on the hunt for land parcels. All of these are believed to be diversified across more than one state.
Pointing out the political stability being of utmost importance to Foxconn, word on the street implies uncertainty in states falling behind in the race.
According to reports, Karnataka and Maharashtra were believed to have a problem with political stability, whereas Telangana appears to be a promising state. Gujarat is said to be a top priority for Foxconn.
In addition to the phones they now produce, Foxconn as a company has expressed interest in producing other lines for their customers.
For Foxconn, electric vehicles are a relatively new market. It purchased a factory in the US last year to build hybrid electric vehicle manufacturer Fisker as well as other clients for the North American market.
Foxconn says that it is seeking to replicate this localization approach in other regions, including South-East Asia, in the future.
The company appears to be investing in multiple things such as wearables, EVs, and the like for which they are on the hunt for land parcels. All of these are believed to be diversified across more than one state.