Big shift from China: Foxconn commits $700 mn for new plant in Karnataka

Foxconn group is looking at a three-seater box electric car for the Asian market including India

Apple partner Foxconn is stepping up its India business plans and investments significantly, in a move that is being seen as a shift from China just like its key customer.  In the latest development, Taiwanese electronics contract manufacturer Foxconn has decided to invest an estimated $700 million to set up a new plant in Karnataka. The proposed plant, to be located near the Bengaluru airport, is expected to manufacture and assemble devices including the iPhone.  

Experts described Foxconn’s bet on India as part of a strategy to reduce its over-dependence on China, where 75 per cent of its production is located.

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