iPhone-maker Foxconn looks to set up EV plant in India; talks on with four states

iPhone-maker Foxconn is aiming to enter the electric vehicle manufacturing space in India. The Taiwanese company is reportedly in talks with some state governments in this regard. 

According to a report in The Economic Times, an Indian delegation is set to visit Taiwan soon to meet with Foxconn executives and discuss its plans. However, it is still unclear whether Foxconn would do contract manufacturing for multiple brands or for a single one through a joint venture (JV). 

While the manufacturer has a tie-up with electric scooter-maker Ather Energy, it is expected to look for a partner as it enters the space. They could partner with an Indian auto giant too, sources told the daily. 

Officials from Maharashtra, Telangana, Tamil Nadu and Andhra Pradesh had met top Foxconn executives during their India visit last year to discuss the EV plans. People in the know said that while Foxconn is keen on Maharashtra, it might consider Tamil Nadu as it already has an auto manufacturing hub there and since it faced some challenges in Maharashtra. 

Telangana, also in the fray, is being looked at too for its active “outreach and incentive”. 

The Taiwanese company would want to build a vertical platform including manufacturing, hardware, component manufacturing and battery management, the report added. It would then partner with local firms. 

In the company’s annual report published on May 31, Foxconn said that India would assist it with the establishment of a production line this year in order to provide two-wheeler EV manufacturing services. 

Prime Minister Narendra Modi, during Foxconn Chairman Young Liu’s visit to India, had said that the company’s push for EV manufacturing is in line with India’s commitment for net zero emission. 

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