Foxconn Industrial Internet Co (FII, 富士康工業互聯網), a subsidiary of Hon Hai Precision Industry Co (鴻海精密), is to build a factory in a southern Indian state to make iPhone components, a Karnataka official said.
In a Twitter post on Monday, Karnataka Minister for Large and Medium Industries and Infrastructure Development M. B. Patil said that FII is to invest 88 billion rupees (US$1.07 billion) in the state.
Patil posted photos showing him meeting with FII chief executive officer Brand Cheng (鄭弘孟) and his team to discuss the investment.
Photo: Carlos Garcia Rawlins, Reuters
“The state is ready to provide full support, offering land required to set up the manufacturing unit, in the 100 acres [40.5 hectares] of land available in the Japanese Industrial Park near Tumakuru,” Patil said.
He did not say what kind of components would be produced there.
FII is expected to produce components such as screens and casings in India to be used in iPhone assembly, Indian daily the Deccan Herald recently reported.
Hon Hai, better known as Foxconn Technology Group (富士康科技集團) internationally, is expected to invest 130 billion rupees in an iPhone assembly plant in Devanahalli, in a rural area north of Bengaluru in Karnataka, that would begin production in April next year, the Deccan Herald reported.
Separately, Hon Hai has invested NT$15 billion (US$483.93 million) to set up Foxconn EV Singapore Holdings Pte Ltd, that an industry source close to the investment said is aimed at electric vehicle (EV) development.
The company said in a regulatory filing on Monday that establishing the subsidiary in Singapore is a long-term investment.
Hon Hai did not elaborate on the nature of the Singapore investment, but the source said it is expected to use the new subsidiary as a hub for allocating funds to finance its EV ambitions worldwide.
The company has said that because localized manufacturing is key to EV development, it needs to take advantage of every opportunity to make vehicles in key markets if it wants to meet its goal of carving out at least a 5 percent share of the global EV market by 2025.
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