TDK Corporation Looking to Manufacture Li-ion Batteries in India

Japanese electronics maker TDK Corp will manufacture lithium-ion battery cells for Apple iPhone in India, Ministry of Electronics and Information Technology (MeitY) Secretary Rajeev Chandrasekhar has confirmed. TDK, a key supplier of cells to Apple, will set up a 180-acre facility in Manesar, Haryana, to manufacture cells for batteries used in  #MadeInIndia iPhones,” the minister said in the Post.

Around 1,000 new jobs will be created, helping to increase the value added of the village, the minister confirmed and hailed it as a major achievement of Prime Minister Narendra Modi and the Prime Minister's Linked Infrastructure (PLI) program to transform the mobile manufacturing ecosystem. in India. Minister Chandrasekhar thanks the Government of India, Apple, TDK Group and the Haryana Government for intensifying their efforts to strengthen the energy ecosystem.

This comes days after Taiwan-based Foxconn announced a $1.6 billion investment in India. The investment, to be made through Foxconn subsidiary Hon Hai Technology India Mega Development, is for "operational needs," the company said in a legal filing. The iPhone maker plans to double its operations, foreign direct investment (FDI) and turnover in India by 2024,  the company's India head, V Lee, said.

Earlier this year, Hon Hai Technology Group chairman Young Liu said that since Foxconn entered India in 2005, revenue, headcount and investment scale have increased. In the company's Q2 earnings report, Liu said Hon Hai will also be rolled out in Karnataka, Telangana and other states, in addition to its previous operations in Andhra Pradesh and Tamil Nadu.