Foxconn Signs Agreement with Tamil Nadu Government to Build Components Manufacturing Facility
Based on a senior state government source with direct knowledge, a Foxconn unit will sign an agreement with India's Tamil Nadu state on July 31 to build a new facility for electronic components that will create 6,000 new jobs.
According to the source, who was not authorised to speak publicly about the matter, Foxconn Industrial Internet (FII) intends to invest 16 billion Indian rupees ($194.45 million) in the Kancheepuram district, near the state capital of Chennai.
According to the source, the facility will be separate from Foxconn's current sprawling campus near Chennai, where the company currently employs over 35,000 people and assembles Apple's iPhones.
Foxconn did not respond immediately to a request for comment. The state government, which did not immediately respond to a request for comment, stated on LinkedIn on July 31 morning that a "big announcement" was expected later in the day, implying that Tamil Nadu would retain its "top position as India's Electronics Powerhouse."
According to sources, the Foxconn subsidiary was in talks with Tamil Nadu about the investment last week, with the company aiming to complete the plant by 2024.
Foxconn's FII division manufactures electronic devices, cloud computing equipment, and industrial robots. It was unclear whether the new India plant would produce components for iPhones, other companies, or both.
The state government is expected to make an official announcement later in the day, with Foxconn chairman Young Liu, who has been in India to attend the federal government's semiconductor conference, attending the signing ceremony with the state chief minister, according to a source.
According to Sources, Foxconn plans to quadruple the workforce at its iPhone factory in Tamil Nadu by late 2024 in order to diversify its bets beyond China.