Taiwan’s Foxconn seeks chip, EV cooperation with India

Taiwan’s Foxconn seeks chip, EV cooperation with India


Staff members perform in a factory at the mobile cellular phone plant of Climbing Stars Cell India Pvt., a unit of Foxconn in Tamil Nadu, India on July 12, 2019.

Bloomberg | Bloomberg | Getty Visuals

Major Apple supplier Foxconn claimed on Saturday it was seeking cooperation in India in new places like chips and electric powered motor vehicles soon after a take a look at to the state by its chairman, Liu Younger-way.

Apple has been shifting generation away from China immediately after the country’s rigorous Covid-19 limits disrupted the production of new-model iPhones and other gadgets, and amid tensions among Beijing and Washington.

In January, India’s trade minister claimed Apple, which commenced Apple iphone assembly in the country in 2017 by Wistron and afterwards Foxconn, desires India to account for up to 25% of its manufacturing from about 5% to 7% at this time.

Taiwan’s Foxconn, the world’s major deal electronics maker and formally called Hon Hai Precision Sector, said Liu experienced frequented India from Feb. 27 to Saturday.

“My journey this week supported Foxconn’s initiatives to deepen partnerships, satisfy aged pals and make new kinds, and seek cooperation in new locations these kinds of as semiconductor enhancement and electric motor vehicles,” Liu reported in a statement.

Foxconn has bold plans to make EVs, and is also seeking to make chips.

Browse a lot more about tech and crypto from CNBC Professional

“On the basis to share, collaborate and prosper alongside one another, Foxconn will proceed to connect with community governments to seek the most beneficial progress alternatives for the organization and all stakeholders,” Liu added.

He did not mention any new concrete financial investment plans in the country, and Foxconn has not introduced any considering that his journey.

Apple’s iPhones will quickly be assembled at an additional web-site in the southern Indian point out of Karnataka, and 300 acres (120 hectares) have been aside to set up a factory, the point out authorities reported on Friday.

Now, iPhones are assembled in India by at the very least 3 of Apple’s world-wide suppliers — Foxconn and Pegatron in Tamil Nadu, and Wistron in Karnataka.



Source

Asia-Pacific markets trade subdued as Trump-EU tensions keep investors jittery
World

Asia-Pacific markets trade subdued as Trump-EU tensions keep investors jittery

Atlantide Phototravel | Corbis Documentary | Getty Images Asia-Pacific markets traded subdued as investors weigh renewed U.S. tariff threats tied to Greenland that have stoked concerns of a growing rift between Washington and European nations. European states are reportedly discussing counter-tariffs and broader punitive economic measures in response to fresh tariff threats from President Donald […]

Read More
Dow set to fall more than 300 points on Trump’s new tariff threat over Greenland: Live updates
World

Dow set to fall more than 300 points on Trump’s new tariff threat over Greenland: Live updates

Trades work at the New York Stock Exchange on Jan. 16, 2026. NYSE Stock futures on Monday night pointed to a downbeat session on Wall Street as President Donald Trump intensifies his rhetoric on Greenland, threatening to impose new tariffs on countries opposing the sale of the Danish territory to the U.S. Futures tied to […]

Read More
Fed chief Powell to attend Supreme Court arguments on Trump bid to fire Lisa Cook
World

Fed chief Powell to attend Supreme Court arguments on Trump bid to fire Lisa Cook

Jerome Powell, chairman of the US Federal Reserve, during the Hoover Institution’s George P. Shultz Memorial Lecture Series in Stanford, California, US, on Monday, Dec. 1, 2025. Jason Henry | Bloomberg | Getty Images Federal Reserve Chairman Jerome Powell plans to attend oral arguments on Wednesday at the Supreme Court in a case challenging the […]

Read More