Foxconn Chairman meets PM Modi to discuss EV manufacturing plan in India

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Foxconn is planning to foray into the electric vehicle market in India. As the company prepares to enter the EV market in India, Foxconn President Young Liu met with Prime Minister Narendra Modi to share his plans on the matter.

“It was a pleasure to meet Mr. Young Liu, President of Foxconn. I welcome his plans to expand electronics manufacturing capacity in India, including semiconductors. Our thrust for EV manufacturing is in line with our commitment to Net Zero Emissions,” PM Modi said. Sharing details about their meeting, wrote in a post.

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It is worth noting that this meeting comes shortly after reports that the Taiwan-based company has started manufacturing an EV in India as part of its larger plans to expand its manufacturing supply chain outside China. The plant is planned to be set up.

According to a report in The Economic Times, Foxconn’s EV manufacturing arm, Foxtron, is planning to set up manufacturing plants at various locations in Southeast Asia, including India, Vietnam and Indonesia.

The report also stated that Foxconn had no plans to enter the EV market in India earlier. However, the increasing demand for electric vehicles in India prompted the company to change its plans and take its roots in India as far as electric vehicles are concerned. Notably, the company already has two manufacturing plants in India. Foxconn has a manufacturing facility at Sriperumbudur outside Chennai, which makes iPhones for Apple. It has a separate plant which is operated by India FIH, the Indian arm of Foxconn, which manufactures phones for Xiaomi.

Now, the company is looking to set up a third manufacturing facility in Tamil Nadu that will manufacture electric vehicles for the Indian market.

Foxconn, also known as Hon Hai Precision Industry, has a similar EV manufacturing plant in the US that caters to the North American electric vehicle market.

Foxconn chairman meets PM Modi to discuss EV manufacturing plan in India, first appeared on BGR India.



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