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.
Vincent Wei led fellow Singaporean farmers around an empty Malaysian plot, laying out plans for a greenhouse and rows of leafy vegetables. What he pitched was not just space for crops, but a lifeline for growers struggling to make ends meet in a city-state with high prices and little vacant land. The future agriculture hub is part of a joint special economic zone launched last year by the two neighbors, expected to cost US$123 million and produce 10,000 tonnes of fresh produce annually. It is attracting Singaporean farmers with promises of cheaper land, labor and energy just over the border.
US actor Matthew McConaughey has filed recordings of his image and voice with US patent authorities to protect them from unauthorized usage by artificial intelligence (AI) platforms, a representative said earlier this week. Several video clips and audio recordings were registered by the commercial arm of the Just Keep Livin’ Foundation, a non-profit created by the Oscar-winning actor and his wife, Camila, according to the US Patent and Trademark Office database. Many artists are increasingly concerned about the uncontrolled use of their image via generative AI since the rollout of ChatGPT and other AI-powered tools. Several US states have adopted
A proposed billionaires’ tax in California has ignited a political uproar in Silicon Valley, with tech titans threatening to leave the state while California Governor Gavin Newsom of the Democratic Party maneuvers to defeat a levy that he fears would lead to an exodus of wealth. A technology mecca, California has more billionaires than any other US state — a few hundred, by some estimates. About half its personal income tax revenue, a financial backbone in the nearly US$350 billion budget, comes from the top 1 percent of earners. A large healthcare union is attempting to place a proposal before
KEEPING UP: The acquisition of a cleanroom in Taiwan would enable Micron to increase production in a market where demand continues to outpace supply, a Micron official said Micron Technology Inc has signed a letter of intent to buy a fabrication site in Taiwan from Powerchip Semiconductor Manufacturing Corp (力積電) for US$1.8 billion to expand its production of memory chips. Micron would take control of the P5 site in Miaoli County’s Tongluo Township (銅鑼) and plans to ramp up DRAM production in phases after the transaction closes in the second quarter, the company said in a statement on Saturday. The acquisition includes an existing 12 inch fab cleanroom of 27,871m2 and would further position Micron to address growing global demand for memory solutions, the company said. Micron expects the transaction to
RSS