Foxconn is going to build another Apple iPhone manufacturing plant in a 300-acre new factory in India’s Karnataka, the country’s Union Minister Rajeev Chandrasekhar and the state Chief Minister Basavaraj Bommai have said.
According to them, the manufacturing facility will employ 100,000 people, reports NDTV.
The investment, one of Foxconn’s largest single expenditures in India to date, comes as global businesses increasingly move away from China as Washington-Beijing tensions grow.
In the outskirts of Bengaluru, land has been made available to Foxconn, the leading manufacturer of iPhones. The 300-acre site is said to be one of the largest manufacturing units for Apple’s iPhones.
The Taiwanese company is planning to invest US$ 700 million in the new plant to ramp up local production, according to a Bloomberg report.
The factory may also assemble Apple handsets, Bloomberg said, quoting sources.
Foxconn might manufacture some components for its budding electric vehicle industry at the new site, added the report.
“Bengaluru was the preferred destination for global companies and had been a forerunner in attracting investment,” Foxconn Chairman Young Liu said after visiting the factory site.
Foxconn, meanwhile, continues to produce iPhones at its massive manufacturing facility in the Chinese city of Zhengzhou, where it currently employs some 200,000 people.
Foxconn has made a significant investment in India twice now. In a facility in Tamil Nadu, the firm is already producing iPhones of the latest generation.
Foxconn reported earnings of USD 206 billion in 2021, placing it second globally in the production of Apple phones. According to reports, Foxconn is the biggest producer of electronics worldwide. It ranked 20th in the Fortune Global 500 as of the previous year.
There are 173 campuses and offices for Foxconn spread over 24 countries or regions, including those in China, Japan, Vietnam, the Czech Republic, and the US.