Foxconn will be generating nearly 6,000 employment opportunities with the establishment of its new facility. The Foxconn Industrial Internet (FII), a division of Foxconn, has entered into an agreement with Tamil Nadu state to establish a new facility for electronic components.
FII is said to invest Rs 1,600 crore ($194.45 million) in constructing the campus, which will be located in the Kancheepuram district near Chennai. Additionally, the facility will be distinct from Foxconn’s current large campus in Chennai, where they manufacture Apple’s iPhones. The Chennai facility currently employs over 35,000 individuals.
Foxconn’s FII specialises in electronic devices, cloud service equipment, and industrial robots. However, it remains uncertain whether the new plant in India will produce components for iPhones or other companies, or perhaps cater to both.
Moreover, last week, as reported by Reuters, Foxconn Industrial Internet (FII) CEO Brand Cheng and a team of company representatives met with Tamil Nadu Chief Minister MK Stalin and other government officials to explore potential investment prospects in the southern state.
As per media reports, the company plans to complete the plant by the end of 2024.
Additionally, as reported by Bloomberg News, Foxconn Technology Group, Apple’s primary supplier, is set to invest around ?4,100 crore (approximately $500 million) to establish two component factories in India.
The location selected for both the factories will be in the southern state of Karnataka. It’s yet to be confirmed, but there are expectations that at least one of these facilities will be solely focused on manufacturing Apple components, including those crucial for iPhones.
