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Toyota responds to continued production cuts in the next 3 months: easing pressure on dealer earnings

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Foxconn finalizes new factory in India: investment scales up to 80 billion rupees

Earlier this month, news broke that Foxconn plans to invest $700 million (currently about 4.809 billion CNY) in India to build a new factory there and create 100,000 new jobs to increase iPhone production capacity.

The State High Level Licensing Committee (SHLCC) of the Karnataka government has approved Foxconn’s application to build a factory on Monday. However, the amount of investment exceeded expectations, reaching 80 billion rupees (currently about 6.662 billion CNY), but the number of new jobs was reduced by half to only 50,000.

The new factory set up by Foxconn will span Dodballapura and Devanahalli taluks, a rural area of Bengaluru. The plant is located near South India, relatively close to Kempegowda International Airport.

The factory may also assemble iPhones. Foxconn may also use the factory to make some components for its fledgling electric vehicle business.

To boost its own manufacturing, India has offered financial incentives to Apple suppliers such as Foxconn. Foxconn started producing the latest-generation iPhone last year at a factory in Tamil Nadu state. Smaller Foxconn rivals Wistron and Pegatron are also expanding operations in India. Apple suppliers such as Jabil Technologies have begun producing components for the AirPods locally.

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Threza Gabriel
Threza Gabrielhttps://www.techgoing.com
Threza Gabriel is a news writer at TechGoing. TechGoing is a global tech media to brings you the latest technology stories, including smartphones, electric vehicles, smart home devices, gaming, wearable gadgets, and all tech trending.

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