Foxconn targets India as next EV production powerhouse
POWER & RENEWABLE ENERGY

Foxconn targets India as next EV production powerhouse

India is being considered by Foxconn Technology Group as its third worldwide base for contract manufacturing of electric vehicles (EVs).

According to a study, the Taiwanese corporation plans to provide five to seven lakh EVs by 2025, or 5% of all electric car sales globally. The corporation has previously paid $230 million for a US manufacturing facility in Ohio that has the capacity to produce 5–6 lakh automobiles annually.

In addition, the business runs an EV plant in Thailand and is getting ready to expand into the passenger car industry. There are also continuing discussions with Indian state governments about a potential EV factory that would make use of Foxconn's strong domestic electronics manufacturing capabilities.

Additionally, it has partnered with Yulon Motors, the biggest manufacturer in Taiwan, to produce the Luggen 7 brand's first EV this year. Outside of China, Foxconn generates about 30% of its revenue. According to the business, it was also thinking about opening plants in Mexico, Vietnam, Indonesia, and Europe.

According to experts, Foxconn can profit from the increased competition in the EV market that compelled Tesla, owned by Elon Musk, to lower the price of its vehicles. Notably, new businesses that lack manufacturing expertise or the ability to navigate the supply chain can nonetheless outsource production.

India is being considered by Foxconn Technology Group as its third worldwide base for contract manufacturing of electric vehicles (EVs). According to a study, the Taiwanese corporation plans to provide five to seven lakh EVs by 2025, or 5% of all electric car sales globally. The corporation has previously paid $230 million for a US manufacturing facility in Ohio that has the capacity to produce 5–6 lakh automobiles annually. In addition, the business runs an EV plant in Thailand and is getting ready to expand into the passenger car industry. There are also continuing discussions with Indian state governments about a potential EV factory that would make use of Foxconn's strong domestic electronics manufacturing capabilities. Additionally, it has partnered with Yulon Motors, the biggest manufacturer in Taiwan, to produce the Luggen 7 brand's first EV this year. Outside of China, Foxconn generates about 30% of its revenue. According to the business, it was also thinking about opening plants in Mexico, Vietnam, Indonesia, and Europe. According to experts, Foxconn can profit from the increased competition in the EV market that compelled Tesla, owned by Elon Musk, to lower the price of its vehicles. Notably, new businesses that lack manufacturing expertise or the ability to navigate the supply chain can nonetheless outsource production.

Related Stories

Gold Stories

Next Story
Resources

Schindler named among Forbes’ World’s Best Employers 2026

Schindler has been named among Forbes’ World’s Best Employers 2026, a global ranking recognising companies for their workplace environments.Compiled by Forbes in partnership with Statista, the ranking is based on independent employee feedback, including whether employees would recommend their organisation to friends and family.The company said the recognition reflected its focus on creating a workplace where employees can develop their expertise and build careers. ..

Next Story
Infrastructure Urban

India needs an export-execution mindset: Vishesh Jain

Interview with Vishesh Jain, Founder & CEO, EximpleWhat gaps in India’s global trade ecosystem led you to build Eximple, and what problem did you see businesses struggling with most?Eximple came out of a problem that all three founders had seen from different choke points in the trade ecosystem. India has millions of MSMEs and manufacturers, and many of them can make products that are genuinely competitive on quality. Yet only a small fraction is able to build meaningful international businesses. In our experience, the gap is usually not manufacturing capability; it is the ability to exe..

Next Story
Building Material

Nuvoco reports 13.5% revenue growth in Q2 FY27

Nuvoco Vistas Corp. Ltd. reported consolidated revenue of Rs 27.9 billion for Q2 FY27, up 13.5% year on year. Cement sales volume rose 9% to 4.7 million tonnes (MMT), while EBITDA increased 11% to Rs 4.11 billion.The company said it began its cement operations in 2014 with a 2.3 MMT per annum (MMTPA) operation at Nimbol. It now aims to reach 35 MMTPA of cement capacity by FY28, nearly 15 times its initial capacity. Its portfolio spans cement, ready-mix concrete and modern building materials.On sustainability and cost efficiency, Nuvoco partnered with CleanMax for a 46.4 MW wind-solar hybrid re..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code