Foxconn plans to manufacture electric vehicles in India

Foxconn is looking at manufacturing electric vehicles (EVs) in India, part of a larger diversification plan to expand its Asian manufacturing supply chain beyond China. Foxtron, the Taiwanese electronics giant’s EV venture, may consider manufacturing in India in addition to other locations in South East Asia such as Indonesia and Vietnam. Currently, in addition to an exclusive unit— outside Chennai — manufacturing Apple’s phones, Bharat FIH, previously known as Rising Stars Mobile India, a Foxconn Technology Group Company operates another facility nearby, which manufactures Chinese brands phones including Xiaomi. Foxconn has shown interest as a group in manufacturing other lines — their own for their customers — apart from the phones that they presently manufacture. The Tamil Nadu government is looking to further infuse in the state. EVs are a relatively new segment for Foxconn. It purchased a factory in the US to produce electric vehicles for the North American market last year and will also utilise the unit to contract-manufacture for clients like hybrid EV brand Fisker. The company said in its annual report for 2021 that Foxconn will look to replicate this localisation model elsewhere in other markets such as South-East Asia in the future. Taiwanese major is also looking at the potential demand for EVs in the Indian market. There was no plan to manufacture in India initially but now Foxconn has been examining the Indian automotive market and is considering foraying into India as well as Vietnam and Indonesia to develop its manufacturing facility in other markets. Sales of passenger electric cars in India increased over 2.5 times to 17,804 units in FY22, highlighting strong demand for green variants, according to a release from the Federation of Automobile Dealers Association (FADA). Image Source Also read: Ather Energy partners with Foxconn arm for sourcing EV components