iPhone maker Foxconn to start making electric vehicles in India: Report
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Foxconn, known to be the contract manufacturer of iPhones in India, is looking to make electric vehicles (EVs) in the country and is directly in talks with several state governments regarding the same, The Economic Times (ET) reported on Friday.
The company is keen on setting up its plant in Maharashtra, but due to some challenges, it may consider Tamil Nadu as its auto manufacturing hub. Foxconn already manufactures iPhones in Chennai.
The company may also consider Telangana as its "most active state in terms of outreach and incentive". In addition to EVs, the company may also develop EV components in India, the ET report added.
In its annual report, published on May 31, the company said that India would assist it in establishing a production line this year to provide for manufacturing EV two-wheelers for Southeast Asia.
In 2022, Foxconn chairman Young Lio met Prime Minister Narendra Modi on his trip to India. Modi had then tweeted that the company's "push for EV manufacturing is in line with our commitment of Net Zero Emission".
Foxconn Group's Bharat FIH had in December 2021 said they had commenced business with EV makers like Ather Energy and Ola Electric. However, whether the company will go solo or form a joint venture (JV) to make EVs in India is still unknown.
"It is still unclear if Foxconn will do contract manufacturing for multiple brands or for a single brand through the JV route," a person aware of the matter was quoted by ET as saying.
"They have a tie-up with Ather Energy but it is likely that they will look for a partner when they come into the space — possibly with one of the (Indian) auto giants — as they did for semiconductors," they added.
Notably, Foxconn and Vedanta announced a JV in 2022 to manufacture semiconductor chips in India.
According to ET, an Indian delegation will visit Taiwan soon and meet Foxconn executives to discuss the company's EV plans.
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