Foxconn to set up $200 Million Electronic Parts Plant In Tamil Nadu

Foxconn subsidiary is in negotiations with Tamil Nadu to invest up to $200 million to construct a new electronic component manufacturing facility. The chief executive of Foxconn Industrial Internet (FII), Brand Cheng, and other corporate executives met with Tamil Nadu officials, including the chief minister, last week to discuss investments in the state, according to a statement released by the government without further explanation.

FII, a manufacturer of communication, mobile network, and cloud computing equipment, has revealed with state officials an intention to invest an initial $180 million to $200 million in the facility. Both a representative for Tamil Nadu's industries department and Foxconn, the largest contract electronics manufacturer in the world, declined to comment.

Foxconn currently assembles Apple's iPhones at a sizable campus not far from Chennai. The sources would not elaborate on the concept or specify whether components produced at the prospective factory would be utilised in iPhones or the goods of another company because the discussions are confidential. Foxconn plans to finish the facility by 2024, and additional investments are anticipated after that, according to the first source. According to both reports, no final decision has been made.

As it looks to enter India's semiconductor market, Foxconn is also in discussions with Gujarat. This week, the government will host an annual semiconductor event, and its chairman Young Liu is scheduled to speak there. The Karnataka government announced last week that it had discussions with FII, which had agreed to invest $1.07 billion in a new facility.