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

BYD bids Warren Buffett’s Berkshire an unfazed farewell: Selling is ‘normal’
World

BYD bids Warren Buffett’s Berkshire an unfazed farewell: Selling is ‘normal’

(This is the Warren Buffett Watch newsletter, news and analysis on all things Warren Buffett and Berkshire Hathaway. You can sign up here to receive it every Friday evening in your inbox.) Hours after we first reported last week that Berkshire sold off the remainder of its stake in BYD earlier this year, the Chinese electric vehicle maker confirmed […]

Read More
The resilient stock market may be keeping the economy out of a recession. Why that’s a bad thing
World

The resilient stock market may be keeping the economy out of a recession. Why that’s a bad thing

Traders work on the floor at the New York Stock Exchange in New York City, U.S., Sept. 17, 2025. Brendan McDermid | Reuters Stock market growth that seems impervious to tariffs, politics and a moribund jobs picture is in turn powering consumer spending and putting a floor under an economy that many expected to be […]

Read More
36-year-old American Army vet moved to Vietnam, lives on ,000 a month: You can ‘focus on what makes you happy’ here
World

36-year-old American Army vet moved to Vietnam, lives on $4,000 a month: You can ‘focus on what makes you happy’ here

Markeiz Ryan, 36, had a pretty good childhood growing up in Maryland, but the 2008 financial crisis changed things. “It wiped my mother’s job away and it really made things tough for us around the time I graduated high school,” Ryan tells CNBC Make It. “I didn’t have much of a financial security blanket to […]

Read More